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Microcap & Penny Stocks : HITSGALORE.COM (HITT) -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (5346)	4/12/2000 9:10:00 AM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 7056

Here's an interesting calculation: during the class period, 2/17/99 - 8/24/99, the high was 20.6875. The price on 8/24/99 was 2.968. This means a HITT investor might have lost, at most, 85.65% of their investment by the end of that period. Yesterday HITT closed at .937. The high between 8/25/99 and yesterday was 3.312. This means a HITT investor might have lost, at most, 71.7% of their investment by the end of yesterday. Is a 71.7% decline in value cause for (yet another) class action suit? A kneejerk reaction would dictate yes. And I think a good case could be made for one. However, given all the discussion about HITT here on SI and RB you might just as well argue that anyone who ignored all the bright red flags was well aware of the risks involved and therefore the steep decrease in price must be viewed as a "reasonably foreseeable" occurrence. In any case, we now have a 95.47% decrease in price from the class period high and, regardless of how much you hate lawyers and class action suits, IMO the W&Y suit is about as warranted as any I have seen. - Jeff