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Technology Stocks : p-com (pcms) -- Ignore unavailable to you. Want to Upgrade?

To: lazarre who wrote (1280)	1/14/2000 10:30:00 AM
From: Rob Preuss	Respond to of 1461

My 2 cents... Alas, folks here who stepped up to buy at $6/sh didn't know it would rise to $13/sh. [I, for one, foolishly sold out at $9/sh.] These guys wait until its up over $13/sh and then manage to buy in at under $6/sh. It would seem more fair if they had to pay $10+/sh. So... more dilution and less debt... that's the yin/yang of this deal... but the bottom line is that they appear to have sold off equity a little too cheaply in order to worry less about their financial stability. Rob

To: lazarre who wrote (1280)	1/14/2000 1:14:00 PM
From: charlie	Read Replies (2) \| Respond to of 1461

In my defense, these investors bought the stock at 6 while everyone else is paying ~10. Note it is 15% discount to the average price in the last 60 days, during which period the stock is crawling out of shit. I am not sure how long they would have to hold the stock, but they could just short sell enough to offset their position, and then pocket the 40million difference. Who would not come aboard if he can make a 50% return in one day? I would margin everything I have to do that! My point is PCMS could have just sold some secondary offering and the dilution would only be half of what it is today. The problem, I suspect, is that the management does not have the credibility to even manage one. Charlie