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Technology Stocks : TSR, Inc. [TSRI] Good Earnings!
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To: mrc who wrote (195)3/6/1998 12:20:00 PM
From: Andrew Furst  Read Replies (1) of 281
 
That private placement of one month ago represents no more than 3% of TSRI's outstanding stock. TSRI received $16/share for 160,000 shares. If one views that price as a 1/3 "discount" to the current price, one might justify a "discount" of an entire 1% in the stock, but I don't see how it could cause a decline to $21. The short sellers are grasping here. They don't want to be caught when earnings are released later this month, so they'd like to try and find a reason to talk the stock down, then cover. Price gyrations are normal, and are not the same as a "reversal". In fact, the stock has gained every week, for the past 7 weeks in a row. If TSRI can close at $27 or above today, make that 8 weeks in a row. Latest on Y2K is that some states are considering suing those who sold them machines/software not ready for 2000. That fear ought to spur even more business for companies like TSRI.
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