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Technology Stocks : 7th Level
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To: twt who wrote (915)5/1/1998 4:41:00 PM
From: Joe Casey   of 1019
 
It's no wonder SEVL was able to lurch back up to its previous day closing price. I guess people see a bargain in the 6's, or were unduly influenced by KTEL and FVHI, and have similar dreams of SEVL soaring back to its new highs. Sucker bets abound. Next week should prove especially rough for certain equities with nothing but hot air to back up their current valuations, as pundits are predicting a 20% correction in the market. We'll see how SEVL holds up when it's dangling over the toilet and the strong arm weakens under extreme duress caused by this bloated issue. Either way, it's only a matter of time before SEVL runs out of cash and has to yet again dilute EPS and increase the float by selling more shares at a buck and change. My math must be lousy: investors think SEVL is a bargain at 6 7/8 when private placements go for 1 1/4? Wait till these guys who bought at the basement price to dump their shares on the market.
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