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Technology Stocks : ADSOD-Adaptive solutions
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To: Shadow who wrote (459)5/9/1998 9:40:00 AM
From: Ray  Read Replies (1) of 477
 

Looks like we finished the day yesterday at 2 5/8 -- down 3/16 from 2 13/16, the split adjusted price--on volume of almost 15000 shares. That's the equivalent of about 17/32 prior to the split -- down a bit from where we were Thursday, but not by much.

In looking at the question of whether or not the company should have carried out the split, I've been of a mixed mind. I would have said "no" if there was any immediate prospect of news that would have pushed the stock up above $1. Failing that, my preference would be the keep the stock listed -- and within sight of the financial community.

Right now the stock has been pushed down to a point where it's price / book ratio is getting close to 1. I suppose the price could go lower after the split, but I think the company's overall value will keep it from declining much right away. With such a small float (about 1.5 million shares outstanding) after the split any kind of earnings prospects could move the stock significantly.

So the key question is whether or not the new direction of the company will generate earnings. Everything that we're hearing sounds positive, but it will take a couple more quarters to know for sure. Assuming we're not being deceived on that front--and the new direction does begin to accelerate earnings--then now is not the time to sell.

Ray
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