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Non-Tech : Any info about Iomega (IOM)?
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To: Brian Lempel who wrote (9776)10/22/1996 10:11:00 PM
From: Kevin Lee   of 58324
 
Brian,

I have a friend who owns a pool hall/disco and is a real estate agent. One day in May I was working in his office on his PC. He asked me if I know a stock called Iomega. I told him who Iomega was and what they made. He then told me that he brought 5000 share at $36. I told him that I could have brought it for $14 (before the secondary offering) and he must be crazy to pay $36 for it. He said all his friends in the real estate agent office were buying. I am not sure if these agents knew who IOMG was. Anyway, my friend made 50K in days. Most of his agent friends lost money because they either got in too late or hold on too long. The point that I want to make is: There are lots of people out there like my friend and these agents. If I go short, these people may drive the price up. If I go long, I am afraid that these agents alreay move to other stock. Therefore, investing in IOMG is too risky for me at this time.
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