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Technology Stocks : Advanced Lighting Technologies ADLT...time to rebound?
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To: Skywatcher who wrote (16)9/30/1998 12:11:00 PM
From: Jay Hardy  Read Replies (1) of 96
 
Good morning Chris. Raymond James, where have we heard of them before? How about PTEK, and Data Race too I think. They are market makers for ADLT too. I do think they are causing the big sell off, but I think it is them doing the selling. I sold 1/2 my position at 14 on monday and glad I did. Thought I'd buy back when it went back down which it was doing since those pops were so very erratic. From seeing that the company is planning to water the stock by raising up to $100 million in equity and another $100 million in debt I can see why the stock dropped from the $20's to under $10 now. It was surprising that it was bouncing around before it went below $10.
Simple arithmetic would say that 1/2 of $24 is $12 and that seems what I thought it was worth after the news was out. It is just beyond my belief in honesty that Prudential knowing that the float was going to likely be greatly expanded would issue a BUY on it unless they were hoping to sell into whatever buys their recommendation encouraged. I don't like being cynical but hey, this is BUSINESS isn't it, not family.
I can't imagine that ADLT will be adding to the stock float at these prices, so perhaps they'll issue a release stating that, but that may not be too good anyway for than they'll certainly need the debt instead.
We'll see. I'm very tempted to buy back the 1K shares I've sold but now thinking about it more I think I'll wait to see if we do one more down leg before a bounce.
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