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Technology Stocks : EAII-Engineering Animation

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To: gyzniwa who wrote ()	3/18/1999 12:53:00 PM
From: Lawrence Ladin	of 98

Many of us wonder why EAI's stock has been so weak in such a strong market-- so let me pass on the answers I received recently from an analyst at one of the top ten Wall Street houses. I know this fellow well, and his job is to follow EAI and related stocks. He is strongly positive on EAI's stock, based on EAI's very strong fundamentals of growth, profit, and cash flow. He says there is still a very large short seller position against the stock, sellers that hoped to cash in on several problems that he (the analyst) says are just blips. One problem was a dispute over accounting practices, which is now over since EAI voluntarily revised their financials. Another blip was a cash flow crunch, which he says is rapidly turning into a positive cash flow for EAI. Another temporary problem is a weakening of the whole enterprise resource planning software group (which includes EAI) due to worry about the Y2K effect. I asked if the current lawsuit was just another short tactic, and he said he thinks so. He says that when this current quarters results at EAI are published, he believes there there will be a lot of very unhappy short sellers.

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