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Technology Stocks : IDT *(idtc) following this new issue?*
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To: md1derful who wrote (8943)6/5/1999 11:39:00 PM
From: Steve Fancy  Read Replies (2) of 30916
 
You got it Doc. The street obviously knew earnings would not be up to par. I should have caught on in that I've seen it happen so many times before, but I figured there was no way they'd come up short with the pending IPO and apparent history of missing their numbers.

Despite all the attempts on this thread to justify the earnings shortfall, there is no excuse. They should have warned with a miss of 25%...period. Instead, they let the chat boarders and traders run their stock up on IPO speculation, then disappoint. Makes the chart look bad, the company look bad, and the IPO more questionable. It takes time to re-establish credibility with the big (smart) money after a series of misses. I seriously question the expertise of HJ in managing expectations. I now understand why there has been little to no institutional interest in the several months I've followed along now. I also now understand the less than optimistic comments from two analysts a couple months ago.

I'm not expecting much, if any initial impact to IDTC from the IPO at this point, though I do think downside may be limited from here. I think David Wise may have hit the nail on the head. They appear to have missed the days of easy money on internet IPO's. Sure wish I had gone with my gut on this one. FWIW, I don't think we've seen much short covering on this guy yet.

sf
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