Zacks downgrade.
TDFX were downgraded from 1 (best) to 4! (second to worst) by
Zacks today. TDFX were recently dropped from Zacks 100 due to
the poor recent performance of the stock.
I just don't understand what's going on. Either the rest of the
world is savvy to important news I don't have a clue about, or
I'm stupid.
If anyone had told me that a short just after last earnings would
be a doubler by now, right after Banshee release I'd have called for
a doctor (after lending my shares... ;-D).
I just dunno anymore... IMHO the DEC98 Calls are on fire sale, but I
may be wrong. DEC98 17.5 Calls ask 4 5/8, breaking even at stock >22 before christmas!!!? DEC98 17.5 PUTS are bid at 4!!! Madness...
I do wonder about one thing, though. The recent secondary issue was as
we all have come to realize, a very bad thing indeed, at least for
us investors. What I wonder is what they needed the money for? With
earnings going the way the are and loads of cash on hand I see no
reason for 3DFX raising the extra capital. What for? They have plenty
cash to pay for top-level people, who work for the stock options anyway. Their cash flow is positive, to say the least - which begs
the question what the money is for. I hope it's something good.
/Sverre |
