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Strategies & Market Trends : Stocks in Play
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To: Roger A. Babb who wrote (65)4/24/1998 9:53:00 AM
From: Ploni  Read Replies (1) of 120
 
AVNT is up very sharply today, on the basis of a Wessels analyst saying he doesn't think their product will be enjoined.

This seems like a great short play now (unfortunately I'm already short and now very deep underwater). My reasons for saying it's a great short:

(1) Why did it take such a huge jump on the basis of one analyst, who doesn't know anything? This is probably a market maker game, and this new level probably won't hold through the day.

Longer-term:

(2) Even if the product isn't enjoined, that doesn't mean the case is over. They can keep selling it, but eventually CDN may win a huge settlement.
(3) AVNT management continues to be under criminal indictment, and may end up in jail.
(4) They have strange sales practices with related companies.
(5) They have heavy involvement in Asia.
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