Specialty Teleconstructors, Inc. (XMIT) -- EXCITING! Message Board

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Technology Stocks : Specialty Teleconstructors, Inc. (XMIT) -- EXCITING!

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To: Doug Shapiro who wrote (369)	8/20/1998 10:56:00 AM
From: 18acastra	Read Replies (2) of 418

Valuation problems in Sector: Pinnacle Tower IPO pulled. Pinnacle Tower was scheduled to go public last week. It is a much larger (500+ towers) and better tower company than SCTR in my opinion. Original filing range was $14/$16 share. The range got lowered to $12/$13 share after professional investor interest was not high enough in initial range. Deal could still not get done at lower range. Pinnacle also had a significantly lower valuation than SCTR, and is much larger/better/more capable. If professional investors did not like pinnacle at valuation lower than SCTR and Pinnacle is a better company implication is interesting for SCTR stock price. Seems like SCTR is held by a lot of individuals who have no concept of valuation or industry fundamentals but continued to hold stock based on hype/chart looked good. Continue to believ SCTR stock fundamentally very overvalued. My opinion.

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