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Technology Stocks : 3Com Corporation (COMS)
COMS 0.001300.0%Nov 7 11:47 AM EST
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To: Techplayer who wrote (28539)3/2/1999 9:08:00 PM
From: Stephen  Read Replies (1) of 45548
 
Brian ... you obviously haven't been in Ascend long enough !. When the stock began its drop a couple of years ago, Mory told everyone at a conference that business was stronger than ever. The stock gained 5 points, then further weakness in the price continued as it underwent distribution. At the time I wasn't experienced enough to know what was happening .... but I held it from 55 down to 36 ...and never bought back in even in the low twenties because I no longer trusted the management ... and still don't. I think they got the Lucent deal just in time and piled everything in to meet the last two quarters.

This sector is littered with many ex-highflyers. I think 3COM can go lower even if it bounces, and if Ascend hadn't bought Cascade, it would have had a hard time ever getting back to the 30's, and without the Lucent takeover rumours, struggled to get in the 40's. JMHO..... but there's nothing new here .... as pretty well most of you poor 3COM longs know.

A small silver lining is that the stock has had a haircut already ... so the lingering effects I've seen with other stocks (like DELL, CPQ) which have continued after the initial drop, should be muted. BKDIK.

Good luck all

Stephen
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