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Technology Stocks : Davox
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To: Dennis V. who wrote (326)7/25/1998 10:17:00 AM
From: Scott Kessler  Read Replies (1) of 439
 
I have a really hard time figuring this stock out. 6 mos. or so ago -- the company's is doing very well and the stock's trading at an all-time high -- around 40. Then the Answersoft acquisition is announced and the bottom drops out -- from 40 to 35 to 30 to 20 to 16. No comment from the co. To assuage investors, the co. fires its President (who had had some 6 mos. under his belt), and starts a significant pr campaign to improve investor sentiment. The stock bounces off its lows -- from 16 to 23 1/2 or so -- nearly 50%. Then, the company beats earnings expectations and the bottom drops out again, taking out the new lows b/c analysts and investors are scared about the Answersoft acquisition. Like most of you -- I'm incredibly frustrated. The company not only makes money, but trades at a below-growth-rate-p/e. The prob. is there's no sign of any event or news that'll bring this one out of its hole. All this tumult while the indexes have been pushing up against all-time highs. Man. I think DAVX money is dead money for the next several months. Investors have lost confidence and the co. has a broken stock. Yeah, I bought some September 22 1/2 calls when DAVX was b/w 16-18, and I sold half of them when the stock was over 23. But now I'm left holding the bag (the other half) and I believe the stock won't see 23 again until perhaps next earnings -- in November. Damn. I'd sell now, but I've been wrong about this stock before -- Scott.
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