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Technology Stocks : 3DFX
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To: Paul A who wrote (4873)6/29/1998 11:27:00 PM
From: dumbmoney  Read Replies (3) of 16960
 
I bought on the Banshee announcement. I don't usually buy on news, but I figured it would stop the slide. Wrong! So I sold today - I've learned it doesn't pay to go down with the ship.

Some misc thoughts:

I think a large part of the lack of institutional support is the 3DLabs blowup. A lot of people got burned on 3dlabs and consequently aren't going to give 3dfx the benefit of the doubt. Incidentally, the 3dlabs blowup was preceeded by a large increase in the short position, just as we have seen with 3dfx. Shorts aren't stupid. The influx of shares from the secondary and other sources doesn't help. And finally, people are worried about Intel - which are quite legitmate worries by the way - and the general dismal state of the PC hardware market.

OK, what about the positives? Well, 3dfx is an attractive purchase for a company that wants to get into the graphics business - if there is any such company left. Hmm...that's all the positives I can think of right now. <g>
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