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Technology Stocks : FORE Inc.
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To: HTO who wrote (9065)8/27/1998 1:32:00 PM
From: Greg Jung  Read Replies (2) of 12559
 
"Watch ASND"

Right now, asnd is hovering over 40. So I suppose that contradicts your theory. You have to stick with, "the market is wrong".

This is in part a market reaction. Watch ASND. When they bought SRA, the stock fell from
$52 to $44, losing $1.5B in market cap over a $800M deal. Not only does the deal look
smart, but SRA had almost $300M in net cash. The stock rallied back to $48, but has
since fallen back to below $44. If ASND donated the money to charity the stock should be
around $50. This looks like more of the same.


Fundamentally, ASND and FORE are overpriced, selling at high multiples with 10-20% growth rates (itself precarious because of a non-dominating stature), a checkered performance history and priced as if already bid on with a take-out premium.
Those who hold the funds that have produced this over-valuation recognize that they are dealing in tulips and lollipop dreams. If you can recognize that yourself then the price swings won't hurt as much.
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