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Technology Stocks : SYQUEST
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To: Gary Wisdom who wrote (7355)10/28/1998 10:28:00 AM
From: Gutterball  Read Replies (1) of 7685
 
Interesting news on Syquest's financial situation. I believe Syquest isn't finding a buyer because potential buyers know if Syquest goes Chapter 11, which it will if it can't get another round of financing, they can get the company by just assuming its debt which they'd have to do anyway if they bought Syquest out right. The buyer's advantage in letting Syquest seek Ch 11 protection is that they can wipe the slate clean of 230.8 million of common -- that means you and everybody else in SYQT.

SYQT may be a great day trade. Considering the pressure on SYQT is downward, it will take a great deal of skill to make any money here.
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