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Technology Stocks : Flextronics International (FLEX)
FLEX 62.91+2.2%Nov 12 3:59 PM EST
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To: rich evans who wrote (758)9/3/1998 12:37:00 PM
From: kolo55  Read Replies (2) of 1422
 
Someone sells a big block of FLEXF every day.

The last several days someone dumps a big block of FLEXF; yesterday there was 200,000 dumped in moments in the morning, then almost 150,000 dumped in moments in the afternoon. Today someone dumped over 150,000 this morning in moments.

I don't know what is motivating the seller (and I suspect it is one seller). I could guess;

Guess #1: There are a number of insiders who sold their companies to FLEXF over the last several years and hold a lot of shares. Flextronics registers their shares every so often with the SEC so that the shares are available for immediate sale. Check the SEC filings and you'll see these filings. I believe that the latest filing showed somewhere between 3-4M shares. One of these insiders could have seen the general market plunge on Monday and panicked.

Guess #2: Someone has wind of a potential earnings disappointment. Perhaps they are working off the drop in a few Flextronics customer stock prices. Or because other companies in the sector have warned, they are looking for Flextronics to warn. I don't think Flextronics will warn or disappoint, but I could be wrong.

Guess #3: A large player got into margin trouble, and had to cover. This could be an insider, for all we know.

I suspect that as soon as this large seller stops, the stock will rebound, probably back to 30. At this price, the stock is trading more comparably to the sector.

Paul
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