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Technology Stocks : CGRM Centigram
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To: David R who wrote (56)3/5/1997 8:15:00 PM
From: Cary Salsberg   of 333
 
David,

Market price is tied to future earnings expectations. The market has little confidence that it can predict CGRM's future earnings, so money is placed elsewhere and the price declines. CGRM's price could easily go to $9, half way between cash and book. It is definitely undervalued based on assets and this will provide a floor for the price, but it will not move up much beyond $13 (in a roaring bul market) until there is an earnings growth story.

Cary
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