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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis

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To: Q. who wrote ()	8/15/1998 2:27:00 PM
From: Sword	Read Replies (2) of 2506

John or others: Network Equipment Technology (NWK) just filed for an extension on their 10-Q. I drew the following quote from their NT 10-Q: "Registrant was not able to timely file its Quarterly Report on Form 10-Q for the quarter ended June 28, 1998 because of administrative, clerical and technical difficulties. Such difficulties resulted in a one-day delay in the filing of the Form 10-Q." The stock has recently experienced a lot of volatility prior to the above announcement which came out yesterday, after the market close. I looked at their fundamental data at www1.wsrn.com and found that their earnings, revenues and margins have been in steady decline since '96. Several of their recent news releases have pointed to their reliance on China for new sales. In view of the market turmoil in Asia I wonder if this leaves this company overly exposed significant shortfalls in revenue from that source. Would you consider this company as a good short at this point? -Sword

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