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Technology Stocks : Log On America, Inc. LOAX
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To: Glenn Petersen who wrote (163)6/2/1999 1:43:00 PM
From: ISP_Investor  Read Replies (1) of 353
 
I liked your chart on valuation. Very simple and to the point. I don't think many days will drop as fast as LOAX did today, but I would expect a 1/2 point drop each day until the other investors are released from the lockup. On the short-term side- It's getting tougher to get permission to short the stock now, but the good news is that a lot of the pent up demand from the guys shorting at 25-30 was released when the stock dropped to 16. I think the reason it hasn't dropped further than it's current price is the fact that a lot of the buying has been short covering. There is zero institutional ownership other than the guys who got in on the private market at $1 per share and most of those guys used partnerships to disguise who the real owners were.
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