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Technology Stocks : Defense and Security Investing -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (31)	2/22/2003 10:21:46 AM
From: russwinter	Read Replies (4) \| Respond to of 245

<Will their growth be sustainable?> I don't think it's saturated (possible $one billion supplemental funding coming, Asia has spent a dime yet) personally, but even if it's irregular or "chunky" growth (the way the company has described it), INVN is now an incredible value play. Market cap is only $350m, they have NWC of $227m of which 160 is cash, no debt. So the market is saying the enterprise value is currently only 123M? For only one of two companies the FAA has approved for these devices? In a time of war and terror (do these guys just quit after Iraq? do they sit back and just watch during Iraq?)? For an extremely profitable (64m EBITDA ttm) company? I don't think so. In fact I see it as rather ludicrous that the shorts have piled in to 38% of the float. This is a short corner IMO, it smacks of rather careless manipulation, and I'm making a good size bet (@20.30) they will be trapped. What are they going to do if this puppy takes off after another terrorist attack? Does Congress just sit on funding if that happens?