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Biotech / Medical : SAFESKIN
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To: Madpinto who wrote (603)3/7/1999 2:09:00 PM
From: W Shakespeare  Read Replies (1) of 828
 
When a stock drops precipitously from its high because of fears of a slowdown in growth and because of accounting manipulation accusations, it becomes "out of favor" with the street. The stock will drop down to absurdly low levels based on P/E or future growth valuations for several quarters until a trend toward steady growth can be seen. IMHO, Safeskin will need to have several excellent quarterly reports before it attracts much interest.
By the way, if making money kept a stock in "favor" with the street, then all of the internet stocks would sell for less than a dollar. It is the street's perception of future profits that drives this market.
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