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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: Jeff Vayda who wrote (1362)2/23/1999 5:09:00 PM
From: Lu_Xun  Read Replies (1) of 2693
 
Jeff:

I completely agree with your post. I finally cashed in my IRIDF chips at about $24 per share yesterday because I finally came to the conclusion that the subscriber base was growing so slowly the company was likely to have significant trouble getting on its legs, which could only mean yet more bad news for the stock price. Still, I hold out the hope there may be a future for the company that may make it an attractive investment -- but only once the debt burden is somehow solved, presumably by rescheduling the debt (preceded by a declining stock price as the market worries about bankruptcy) or a debt for equity swap with the creditors (meaning dilution of the existing shareholders' equity). Either implies a lower stock price.

I'm going to keep my eyes on this company because there may come a point where the stock price sinks REAL low -- and then it might just be a very good buy indeed. But for the moment, I'm outta here.

Lu Xun
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