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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: techguerrilla who wrote (74680)	6/24/2000 2:21:00 AM
From: Don Edgerton	Read Replies (2) \| Respond to of 152472

RE the 4 for 1 split. I believe Dr. J siad he wanted to get the stock into the 50 to 60 dollar range where the average investor would be willing to buy it. Remember this was early in the multi-hundred dollar share price frenzy. The bull market took it from there. It was split buyers frenzy coupled with a major short squeeze. Unfortunately, his wish came true - albeit 9 months late. You may or may not recall that the split was announced in a relaese just after the earnings release. The stock was about $224. AS soon as the earnings came out the stock dopped in the aftermarket to about $218. CNBC reported ( Bartiroma I think} that "Qualcomm is tanking in the aftermarket". The word of the split hit the wires. The stock reversed up and gapped open at about $240 the next day. By the time the split came the stocks was about $675. Somewhere in the interim came the $1000 per share target from PW. I don't think Dr. J ever intended it as a hype.