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Technology Stocks : Cornerstone Imaging (CRNR)
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To: Mark A. Stang who wrote (89)2/21/1997 2:44:00 AM
From: Mad Bulgarian   of 430
 
I'm not so sure this is such a good idea.

Although I remain bullish on CRNR's fundamentals, I question the tactical value of this share buyback. I think they should be using their cash to grow the software business instead.

I've stated in earlier posts that I see CRNR as a well-managed and experienced software startup. Well, software startups should be spending money to gain market acceptance and market share. If anything, software startups ISSUE stock to accomplish that goal -- not buy stock back.

We know that the stock is undervalued, and management has said for some time that the stock is undervalued. But the way to make the Street sit up and take notice is to start making lots of money, preferably as a software house instead of as a monitor house. That should be management's overriding goal, and they should put all their resources behind it.

Don't hold your breath on that gap to 9, kids. However, if you've been reading my earlier posts, you should be buying in the mid-7s for the medium term.
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