IRID - Iridium World Communications IPO Announced! Message Board

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Technology Stocks : IRID - Iridium World Communications IPO Announced!

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To: Jeff Vayda who wrote (1362)	2/22/1999 12:24:00 PM
From: Joe Brown	Read Replies (2) of 2693

IRIDIUM UPDATE: Merrill this morning reiterated an "intermediate term accumulate" and "long term buy" on Iridium. Motorola Cellular has cut the price of the phone to $2795 (promotional price of last November) from the retail price of $3395. For the lower price, however, you no longer get the extra-capacity lithium ion battery and desktop charger. To stimulate corporate demand, Motorola is offering 5 loaner phones for a 30 day trial. If the company decides to buy, they get them at the $2795 price, but they get 5 more free. In other words, companies who buy could get them for about $1400 apiece. Maurice...this should make you happy (p-----g, and all...). Personally - and this is my OPINION ONLY - I do not think this goes far enough. Demand is still not there. Short sellers are probably covering this morning, since most of the bad news is getting well circulated. If the company cannot go the extra mile in the next couple of weeks, the rally could turn out to be short-lived. I hope Iridium pulls the rabbit out of the hat, personally...

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