Cognitronics (AMEX: CGN) Message Board

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Technology Stocks : Cognitronics (AMEX: CGN)

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To: waxman who wrote (120)	7/16/1998 7:43:00 PM
From: Todd D. Wiener	Read Replies (3) of 142

I think a problem is that CGN is a microcap. Its enterprise value (market value + debt - cash) is $40 million. That's less than 7 times 1999 EPS. The stock seems to have support at $12.5, but the stock is also in a downtrend, forming a descending triangle. Ever since II announced CGN as a Magic 25 stock, it's fallen. As far as I know, the fundamentals are strong. But unless the company does something to enhance shareholder value, our only bailout would be a takeover. I think that the stock could trade over $30, and be fairly valued. Unfortunately, the market doesn't agree. If we break through $12.5, we're in trouble. Todd

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