I meant this: "Osicom Tech Shrs Down: Analyst Notes Stock's Volatility 1/7/99 14:57 NEW YORK (Dow Jones)--Osicom Technologies Inc. (FIBR) shares
fell again Thursday, dropping as much as 16.8% intraday, but a
company spokesman said Osicom didn't release any news that could
account for its falling price.
Osicom shares began trending downward Monday, shedding 13.4%
Wednesday despite news that the Santa Monica, Calif.-based maker
of networking equipment would open four new sales, marketing and
technical support offices in Paris, Madrid, Milan and Zurich.
The stock was recently trading on the Nasdaq market at 11 11/16,
down 1 11/16, or 12.6% from a previous close on volume of 538,700
shares traded, which is more than twice its average daily volume
of 221,600 shares traded.
"They've had a big rise over past couple weeks," said Chapman
Co. analyst Joe Gladue, who attributed the stock's gains at the
end of 1998 to its move to the Nasdaq National market on Dec.
15.
"The stock has always been pretty volatile," said Gladue, who
said Osicom is a development-stage company in some ways.
The analyst said Osicom plans to develop its dense-wave division
multiplexing product, which is used to expand the number of signals
a fiber optic network can handle, for metropolitan applications.
"But it's not a mature market yet," said Gladue. He believes
local phone companies will need to use such products, but the
question is when it will take place on a broad scale.
-By Christina Cheddar; 201-938-5400" |
