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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: ratan lal who wrote (493)3/27/1998 1:37:00 PM
From: Nero  Read Replies (2) of 2693
 
Ratan,

Seems to me that this is a combination of reaction to ML's target of 82 (and over $200/share by 2002) and anxious traders looking to get onboard before system startup in September. I don't see resistance until the mid-70s.

Globalstar is reacting badly to the announced dumping of 1.2 million shares by Dacom.

**Tout warning** Interesting play for those expecting Iridium to be a resounding success. U.S. Digital Communications (USDI) has Iridium's North American distribution rights and is selling for under a buck a share. No financials available. Corporate contact is elusive. But potentially alotta bang for pocket change. I found due diligence impossible, but jumped in anyway for the speculative ride.

nero
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