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Technology Stocks : Redback Networks, Inc. (RBAK) -- Ignore unavailable to you. Want to Upgrade?

To: Wizard who wrote (1201)10/14/1999 10:19:00 AM
From: Craig Richards  Respond to of 1956
 
from briefing.com:

08:55 ET Redback Networks (RBAK) 135 1/16: USB Piper Jaffray slashing investment rating on Internet backbone company from "buy" to "neutral." After the close, RBAK shares tumbled in 3rd-market trading on news company's CFO has resigned and underwriters have approved the early release of 12 mln shares from lock-up agreements. RBAK also reported earnings, which came in 3 cents ahead of expectations. Stock currently trading at $124 per share.



To: Wizard who wrote (1201)10/14/1999 6:34:00 PM
From: incomep  Respond to of 1956
 
[I want to be long internet infrastructure and trade around my positions. The lock-up release has created artificial pressure on the stock. Institutions will eat these shares up over the next few weeks and if the market holds, the stock will go back up to new highs. ]
You smart guy, you run faster than I do. Let me know when you buy. [g]


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