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Technology Stocks : Corel Corp. -- Ignore unavailable to you. Want to Upgrade?

To: Steve who wrote (3825)	12/11/1997 10:43:00 AM
From: A. Hayer	Read Replies (5) \| Respond to of 9798

Already posted this on the other thread, but all the action seems to be here, so I'll post here as well. Ok for all the doom and gloom types (you know who you are) here is an opposing view direct from the company. The Globe and Mail reports in its Thursday, December 11, edition that Corel spent 17 per cent of its cash buying back its stock in October and November after news of big losses sent its share price plummeting. The Globe's Patrick Brethour writes that in those two months, Corel spent $5.4 million to buy 1.3 million shares, or 2.2 per cent of its outstanding shares. Those purchases are in addition to the 200,000 shares Corel bought between April and October for $1.5 million. In total for the year ended November 30 Corel spent $6.9 million to repurchase 1.5 million shares. This is the first year Corel has bought back stock. Corel says it did so because it believes the stock was and is, undervalued. A Corel spokesperson said the buyback was the best use of the company's cash. --------------- ah

To: Steve who wrote (3825)	12/11/1997 12:42:00 PM
From: Alomex	Read Replies (1) \| Respond to of 9798

because he has earned enough money by shorting Corel. Nope. I was among the idiots who thought that this company had a future, and thus lost a bit of money in the Corel debacle. I've wisened up since. How about you? are you rich yet?