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Technology Stocks : CheckFree (CKFR)
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To: micny who wrote (6922)8/19/1998 12:04:00 AM
From: g_m10   of 8545
 
I was one of those who thought that when Pete "validated" the $.32 number he would have known with absolute certainty that that #, plus a safe margin, was a can of corn.

I too was one of them, and I still feel myself as a complete fool and idiot.
What about analysts? Most of them had a very vague understanding of the company's business and relied mostly on management statements. They rated the co. as a strong buy at $30. He made them all look like a bunch of fools. They are not going to forgive it to him any time soon.
Kight must've given them a guidance in advance. They'd appreciate it and provided a soft landing for the stock. The stock price would never go below $18. With all due respect to Kight's achievements in developing his business, he blundered PR in the stupidest possible way.
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