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Technology Stocks : Smart Modular - diamond in the rough?
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To: Jeff Jordan who wrote (1427)5/22/1998 6:36:00 PM
From: Andreas  Read Replies (3) of 2020
 
Jeff;

As I'm sure you know the market price of a stock is not so much based on what it earns or doesn't earn as much as what investors perceive the future is likely to hold in store. That is why internet stocks like Yahoo and AOL have phenomenal pe ratios despite absence of earnings. They are able to pitch a rosy future. Ajay cannot or will not pitch a rosy picture. Believe me, I could have said the same thing Ajay said but phrase it and put a spin on it so that the stock goes up rather than down. We both would have told the truth but the results would have been substantially different. Ajay doesn't have a crystal ball and he could very well have said that smod is experiencing the same thing everyone else in the industry is experiencing but not to worry the future looks great and smod fully expects to be coining money in late 98 and 99. Instead he pulls some brown earnings numbers out of his ass and sends the stock in a tailspin. What a clever guy!
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