Bev, having read many of your posts on this thread, I've come to respect your opinion. I submitted the following short prospect to Anthony but he's been a bit tied up to reply. See if you can look at it.
Even though the financial do show a pretty good rise in revenue, and decreasing lossses, I think it's way ahead of itself. Especially since it looks more probable and eminent that China will devalue (currently the Hang Seng is down 4.25 % on the very possibility of a devaluation). GTSG is very dependant upon Russia, China, and European growth to maintain it's growth.
Thanks in advance.
Jose.
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To: Anthony@Pacific (5793 )
From: Jose Matos Saturday, Jan 23 1999 11:24PM ET
Reply # of 6087
Prospective Short: GTSG
Anthony, I know you're busy with a bunch of crap stocks at the moment, but here's one I think may be ready to head south.
I shorted this back in July or August from about 38 down to 27 or so.
GTSG - GLOBAL TELESYSTEMS GROUP INC
Last Price: 58 1/8 at 16:00 EST
Change: Down 3 1/2 (-5.68%)
Previous Close: 61 5/8 on 1/21
30-Day Avg. Volume: 967,000
Shares Outstanding: 60,503,000
52-Week High: 66
52-Week Low: 21.12
It's a telecommunications company which does business mostly in Europe and Russia. George Soros is a big investor and since July has been and Continues to UNLOAD a ton of shares :
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Washington, Jan. 20 (Bloomberg) -- Global TeleSystems Group Inc. filed with the U.S. Securities and Exchange Commission to register 13.9 million shares held by stockholders, including billionaire George Soros and Global Chairman Alan Slifka......
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Since it bottomed in October at $21, it's tripled to a new high just a week ago at $66. It's begun dropping down, now at 58.
Recently acquired Esprit Telecom (British) for $665 Mil back on Dec. 8. This should hurt their balance sheet and integration issues will arise.
Last Quarterly Earings report.
go2net.newsalert.com.
Catalyst for drop: Recent weakness in Latin America should create instability in Europe & China & Russia again. Plus Overvalued.
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I know it's a bit much for you to evaluate, but if you can, (Or anyone else) I'd appreciate your input.
Regards.
Jose.
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