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Non-Tech : Any info about Iomega (IOM)?
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To: Erik J. Lupien who wrote (1928)5/23/1996 10:23:00 PM
From: Franco Battista   of 58324
 
Erik, something significant happened with IOMG today.
For the first time the stock price did not move up in
spite of an OEM announcement (Packard Bell). In fact,
the share price went down. I believe that the OEM announcement
may have temporarily stopped a correction on this stock. If
you check out early morning trading IOMG was down to 48$ before
upticking back a few points on the OEM announcement.

I bought IOMG with the intention of selling when it hit 100$
pre-split. My feeling is that 6 billion$ is what this company
is worth at this point in time. I would have preferred that IOMG
get to the 100$ price in the autumn, for a more controlled and
steady rise. I sold now and will be waiting for a major
correction to get back in.

One more reason I sold is because the Cabot Newsletter, recently
said that at these prices they feel for the first time that
it is riskier to hold this stock than not to. They were amongst
the first to recommend IOMG and big supporters of the company
and their products. I"ve made a ton of money on this stock. It
is by far my biggest star in my 1996 portfolio. I bought at
13.50$ pre-split and also made loads on options.

I wish you and all continuing IOMEGANS luck with this. Please
do not read too much negativism in my comments, IOMG has defied
gravity in the past and there are good chances that it will
continue.

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