Ok. I'm going to chime in here. The most important thing in determining a stock's value is its expected earnings. TDFX has had a very limited (although stellar) history so far.
Sometimes a large shareholder gets spooked and wants to get out of a stock, and does so all at once, or in relatively small trades at a time.
The facts are that tdfx sustained a huge volume day, and twice tested its low near low 17s, only to rally. The stock closed above its low, again with strong support that rallied it from the low 17s.
At this time, in my opinion, no news is good news, and the earnings to be announced on July 15, 1998 should be in line.
Fahnstock fwiw, reiterated their buy (Bloomberg this morning).
Happy trading,
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