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Technology Stocks : Legacy Storage Systems Inter. Inc-VAST 1500 Gig
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To: Jean Sutherland who wrote (53)11/27/1996 11:15:00 AM
From: Frederic Borgatta   of 64
 
You're right Jean. Average daily volume prior to consolidation was on the order of 3-500K. So the current volume after the consolidation is about 3 times usual. I would think that the price consolidation after such a runup is normal at these resistance levels in the absence of any news. But if the consolidation is on low volume, that could be a bullish indicator.
These daily movements are interesting to a point, but the issue for the ordinary investor has to do with whether this is a well-run and profitable company. As far as I can tell, management trumpets one technology and then turns around and dumps it when sales are going nowhere. Why were sales going nowhere? Shitty technology, sales staff, competition, etc..? Fine, maybe, but the impression one gets is that there is a lot of hot air around LEG, and little of substance. Can you tell from their business line who their main competitors are? It looked to me like they were going after the Exabyte market at one point, but I'm no longer sure. I have real difficulty figuring out what business they're in at this time and which market(s) they are trying to penetrate. I don't see their products advertised anywhere, nor do I see their stuff in wholesaler lists or retail stores. We invested when there was hot air blowing around the company. The LEG BS factor is very high. Any thoughts?
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