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Technology Stocks : Osicom(FIBR)
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To: Brian who wrote (7671)7/24/1998 11:39:00 AM
From: Ploni  Read Replies (1) of 10479
 
The article seemed negative. I was especially surprised by the line that Osicom promises to return to profitability this year. Most companies avoid such forward-looking statements, which can lead to lawsuits if they don't come true.

Osicom is doing the reverse split so the company can upgrade its listing on the Nasdaq market to the top-tier National Market from the lower-rung Small-Cap Market.

I wonder where the writer obtained this information? Osicom has refused to comment on the NASD NMS issue for the past several quarters, and there was no mention made of this or any other motive in the announcement of the reverse split.

It's also an attempt to attract institutional shareholders that shy away from buying penny stocks, which these days are classified as those selling for less than $5 a share.

Again, is this speculation on the part of the writer, or did someone tell him this? As others have pointed out, institutions are thrilled by companies that do reverse splits and that trade with the "D" letter.
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