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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: Dragonfly who wrote (1485)3/30/1999 3:44:00 PM
From: RetiredNow  Read Replies (1) of 2693
 
Dragonfly, have you really read my posts? I don't just say it's a bad stock and then don't back it up. I told you precisely why I believe it's a stock to stay away from right now.

1) LARGE negative cashflow. No earnings to speak of.
2) Narrowly defined market (jet setters) without large upside potential, after spending $5 billion to get the satellites up.
3) Consumer handsets are large and bulky, overall appeal when compared to current digital phones is minimal.
4) Cost for service can be $5 per minute and higher at times, completely precluding mass appeal.
5) CFO quitting is a huge red flag.

Now, you want to know why I post here even though I don't own it myself? My brother-in-law advised me to invest in it 2 years ago. I declined because IRID had too much debt and no earnings (two major criteria I use). Now he has lost 75% of his investment. I feel incredibly bad about that. Had I not been so reticent about hurting his feelings then, I could have saved him (and his father) a shitload of money. So forgive me if I hurt your feelings now, but instead of feeling derided, why don't you look for yourself to see if there is any truth to what I say. Then make your own decisions. No one is forcing you to follow their advice.
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