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Non-Tech : Any info about Iomega (IOM)? -- Ignore unavailable to you. Want to Upgrade?

To: Cogito who wrote (44791)	1/23/1998 8:18:00 AM
From: steve goldman	Read Replies (3) \| Respond to of 58324

Talk about guessing wrong! Anyone think it peculiar that IOM (Iomega) split their stock when the stock was at 28ish? I mean, I have very rarely seen that from a great company. My first impression was that it was to squeeze shorts, maybe the stock goes from the split 14 back to 20 because psychologically it looks cheap... anyway...talk about guessing wrong... stock comes out 1 penny shy on earnings, 14 instead of 15....they took it from 12 3/4 to 8 3/4 over night.... Now those who have split stock (twice the shares) have two times the numbers of shares that just fell 4 points or 33%. If the stock was 25, and theymissed by a penny, maybe they fall to 21, 22....but now they have problems. They now have single digit stock which is also a bit turnoff for mutual funds and large institutions. Many have strict policies about avoiding stocks under 10 bucks..... I don't own the stock, I'm not short it. I just thought it was an extremely rare corporate decision, which was illfounded and eventually cost a great company and more importantly, its shareholders, a tremendous amount of money. Bad move by management. Regards, Steve@yamner.com