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Technology Stocks : Vitesse Semiconductor
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To: SJS who wrote (1609)9/17/1998 5:29:00 PM
From: OldAIMGuy  Read Replies (1) of 4710
 
Hi Steve,
"What pushed the stock down from 35, and so quickly?"

They heard I'd sold some shares at $34-1/2 at the beginning of Aug.!! ;-)

With VTSS's high valuations, it had to be one of the stocks that would be hit in a market scare. This price is a big discount from those recent highs. Even so, it sports a P/E of nearly 50! Today's dousing was caused by the Alcatel announcement. I heard it affected Nokia and Ericcson, didn't seem to do much to VLSI, but then how low can a stock go!!

Best regards, Tom
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