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Technology Stocks : Adaptec (ADPT)
ADPT 14.13-2.6%Nov 13 3:59 PM EST
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To: Investor2 who wrote (2098)5/11/1998 6:01:00 AM
From: Mark Brophy  Read Replies (1) of 5944
 
The previous price is irrelevant.

The chairman of the board sold all his shares at 50 because it was overpriced. We own shares in a company where the highest executive has no vested interest.

You need to do a zero-based accounting of the value of the company and forget what it may have traded for in the past during a period of irrational exuberance. Seagate also traded for 54 and fell down to 18 and is now at 28. The disk drive industry is cyclical and these wide swings are typical.
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