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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Anonymous who wrote (20983)	10/18/2002 10:06:36 AM
From: Bridge Player	Read Replies (2) \| Respond to of 21876

Lucent to seek reverse stock split By Jeffry Bartash, CBS.MarketWatch.com Last Update: 9:42 AM ET Oct. 18, 2002 MURRAY HILL, N.J. (CBS.MW) - To boost the price of its flagging shares, Lucent Technologies said Friday it plans a reverse stock split. NEWS FOR LU Lucent to seek reverse stock split Chip woes hammer tech issues More news for LU The struggling telecommunications-equipment maker said it would put the plan to a shareholder vote at the company's next annual meeting in February. Under the plan, Lucent would issue one share for an unspecified number of shares, resulting in a post-split stock price of $15 to $25 a share. Lucent's move echoes that of rival Nortel Networks (NT: news, chart, profile ), which recently announced plans for a reverse stock split. Also on Friday, Swedish vendor Ericsson announced plans for a stock split.

To: Anonymous who wrote (20983)	10/18/2002 12:38:10 PM
From: Anonymous	Read Replies (3) \| Respond to of 21876

Yesterday I posted - "Thursday (10/17/02) Lucent's closing price was 75c making the 30 day closing average equal to 99.37c which is under a buck. Let's see how long it takes before we see someone in officialdom say something concerning this." It didn't even take 24 hours. And I certainly don't like the fact that they will be seeking a reverse split. At the almost current price of 75c a share then a $15 price would mean 1 share for every 20 and if they really wanted to get to $25 per share would mean 1 share for every 33.33 shares. The guy who posted earlier that the shorts will bang the heck out of it then is correct. It wouldn't take long for the stock to be sitting at $10 which in todays terms would mean a share price of what? ... $10/20=50c or $10/33.33=30c .... how's my math?