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Technology Stocks : STAR Telecommunications (STRX)
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To: Terp who wrote (169)7/6/1998 9:13:00 PM
From: kent barkouras  Read Replies (1) of 780
 
I have been on vacation the last several days and have not been available to respond to some of your comments. I have done a little DD on the last two weeks of trading and have found some helpful information for those concerned. First, Chris Edgecomb is in this for the long haul. His strategy is two-fold. First, to grow the business through acquisitions of retail based firms that have a much greater potential to raise earnings substantially rather than concentrating on raising revenues. He is working his tail off to achieve this. The PT-1 purchase was an all stock transaction that based upon the current stock price could prove to be a steal in the long term.

His second approach is to solidify STAR's continued worldwide connections with a huge focus on Europe. Major deals in other European countries are currently being negotiated and should be completed by mid-summer. Please, do not misunderstand Chris' intent on making STAR a huge players in the entire telecommunications industry. He is a young gentleman with a brilliant strategy that will once again capture wall street's enthusiasm.

One other thing to note, I know of two mutual funds that have unloaded several million shares because they are moving out of telecom stocks altogether. Look at what has happened to AT&T shares over the past two weeks. Hold on and be patient. Bear Stearns has internally recommended a strong buy on the stock and we should see some movement close to $30 per share by the second week of August.
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