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Technology Stocks : Exide: Overbought or bargain?
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To: LTK007 who wrote (94)8/23/1998 10:51:00 PM
From: Paul Senior  Read Replies (1) of 125
 
There can be no buyout without the consent of the controlling shareholders who happen to be the management team. Therefore, there can be no hostile buyout.

This stock is subject to abrupt drops imo. This is caused by 1)analysts' perception that the CEO has misled in announcing or predicting earnings; 2) on-going investigations by SEC and Florida (maybe more states coming) about EX selling used batteries as new; 3) updates on these issues and the ability of the CEO in special articles in Barron's (two + followup articles so far, I think.) Therefore, imo, this stock should only be bought by those with a very long term perspective (especially as the company isn't making anywhere near the returns it made its better days) who can weather the downdrafts this stock experiences and imo will continue to experience.

I am long the stock because I buy into the business model, they are the gorilla of battery retailing, the stock is selling below book value, they've shown when things go in their favor -- bad weather (that's good for battery sales!)and if they can get lower prices on lead (they weren't hedged in their European ops in '97, I think also this year)-- they should be able to earn a decent return on equity. I am also hoping the lawsuits and allegations facing the company are not as damaging as appears now; but if they are... then I hope these issues can be resolved and put in the past.
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