Premiere Technologies (PTEK) Message Board

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Technology Stocks : Premiere Technologies (PTEK)

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To: tom r. phillips who wrote (690)	5/21/1999 12:03:00 AM
From: kendall harmon	Read Replies (2) of 1270

MORE on PTEK valuation. From ricosuave1962 on the Yahoo thread: Remember DBCC and MKTWs IPO, once the IPO came out, DBCC tried to bounce, but quickly settled into the teens, after reaching $40. (and they owned 40% of the outstanding stock). PTEKs value will ONLY increase if the MMs try to squeeze the shorts over night and EVEN then it will be short lived. I have seen it too many times with these "Buy the company which owns a lot of the IPO stock" plays. The "EASY" money was made going long over the last couple of days. When Joe Kernen mentioned PTEK today and the stock only rallied for 1/2 point (19 3/8 to 19 7/8), it became very apparent that PTEK was OVERVALUED! I am admittedly "short" this stock and will continue to short it tomorrow, if the MM try to squeeze us, but don't get caught up in the hype how PTEK is worth $25 on WEBMD stock alone! Caveat EMPTOR!!!!!! Rico p.s. I may be wrong, but I don't think so.

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