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Non-Tech : PERFUMANIA.COM . . PRFM . . .FOR LONGS ONLY
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To: Anthony@Pacific who wrote (999)1/30/1999 1:16:00 PM
From: Rich Benjamin  Read Replies (1) of 2489
 
CFO's resigning do not cause stocks to tanks. It depends on the reason they resign. Look at Symantec. Their CFO resigned and the stock didn't do anything. Their CEO/Chairman is stepping down as the CEO and becoming only the chairman and their stock didn't do anything.

After all of the analysis on multiple PRFM threads, it is obvious that the CFO is resigning due to one of two reasons:

1) Family dispute
2) Poor earnings

In the case of a family dispute, this is good for the company. In order to execute the Internet plan successfully, they need their ducks lined up in a row.

In the case of a quarter with a loss, that will be overshadowed by the revenue and profit potential of the new Internet channel which can bring in large amounts of revenue at a much lower expense. Besides, they have already posted 7 quarters in a row with losses. Another quarter with a loss isn't going to be nearly as big as if they had 7 quarters of profit with a loss coming for the first time.

Next year they will be profitable and their stock price will show it. On Monday, the masses will find about their new vision. With a float of 1.9 million, professional shorters won't go near this stock. And amateur shorters such as yourself will get hammered.
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