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Technology Stocks : General Magic
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To: stephen wall who wrote (4412)12/14/1998 8:28:00 PM
From: Kurthend  Read Replies (3) of 10081
 
Stephen,

IMHO the reason why GMGC stock price is due to:
1. Lack of revenue - this qtr and most likely next qtr.
2. The need for refinancing - although GMGC had thought the original money from the Series C would last through FY99, it seems as though this money will last through the end of 2nd qtr of 1999 at the latest. GMGC will need an infusion of cash unless some unforeseen happenstance occurs with respect to revenue in the near future.
3. Conversion of the Series B and C Convertibles.
4. Conspiracy theory - that the market makers are artificially holding the price down and that the Series C holders are shorting the heck out of the stock to get the greatest number of shares at the lowest price.

That being said, I too seem to be calm about the current price of GMGC. I guess this is due to the number of hours that I have spent researching and gathering info on this company (and continue to gather). I guess the best analogy is taking tests or competing in competition (sports). The more confidence you have (by studying for the test or training hard for a competition) the less nervous you become and the more confident you become on the outcome.

I have no idea what the short-term outlook is, but I do believe that long-term outlook has unbelievable potential. Good luck with GMGC.

Take care,
Kurt

PS IMHO the mystery, in your last post, can be attributed to the fact that GMGC is doing its best to keep a leg up on any potential competitors by keeping the details secret (GMGC is not a big company and they are up against the big boys) and to the fact that GMGC probably has no idea what to charge for their services due to no one ever having tried to sell a service in a market such as GMGCs.
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