Taken from Briefing.com..(posted by Double D on general Y2K thread)
11:45 ET ******
"Y2K 52 WEEK LOWS: The Y2K industry is in the dumps today, as nearly
every prominent pure Y2K stock has now hit a 52 week low. Today Alydaar
sets its low at 9 1/2. The other well known Y2K stocks, Viasoft (VIAS),
Crystal System Solutions (CRYSF), Tava Technologies (TAVA), SEEC (SEEC)
and ConSyGen (CSGI) all hit their's in the last week or so. What does it
mean? It doesn't mean the Y2K problem isn't real. There isn't any doubt
(at least in our minds) that the country still has a pervasive Y2K
problem. But there was a disconnect a year ago between the reality of
the problem and the conclusion that pure Y2K companies would be clear
winners. What the Y2K industry wide slump really means is that, one by
one, investors who bought these stocks hoping for the moonshot stock
ride, are losing faith and taking their lumps. Stock prices were driven
up last year, but only as the pool of enthusiastic Y2K investors got
bigger and bigger. Now, as the promised revenue tidal-wave simply hasn't
occurred, and expectations have been continually driven down by every
pure Y2K company, the "get-rich-quickers" have obviously been throwing
in the towel. What to do now if you own these stocks and are sitting on
big losses? It's up to you, of course, but its time to start asking your
Y2K company what the post 2000 plan is, and asking for specifics.
Companies that have demonstrated they are moving to a new realm of
business are seeing that reflected in the stock price, such as Data
Dimensions (DDIM). The Y2K companies don't have much time to make this
transition and build their Y2K businesses, but the pressure will only
get higher. At this price, Alydaar, for example, would not make the
Russell 2000 Index, if it was reconstituted today. If they don't drive
up the price, Alydaar risks being dumped by the Index funds next May.
Briefing readers who followed our lead back in November and invested in
the system integrators because they showed actual signs of booming
revenue, not just promises, are still sitting on big gains."
briefing.com
DD |
