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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Elmer Flugum who wrote (3379)	2/25/1998 11:30:00 PM
From: Tunica Albuginea	Read Replies (1) \| Respond to of 18016

Len Grasso, I remember what happened, re: disappointments: there was only one since ~ 93.At that time it was up to $ (US) 74 (pre split). Market was up too. Then it started going down 68, 65, 62, for no apparent reason other than profit taking. Was at 56 52 for a while then 48 43 in 1994 when the tech market started correcting. Sometime in fall of 94 they came out .01 cents short!! because what was thought to be a bona fide buyer in SAmerica could not for technical reasons make payments. Unfortunately they had to announce that around Fri at close of market. That weekend, NN's PR guy went on a golf trip unaware of how the market would react. The following Monday unfortunately there was a problem with NASDAQ ( NOT with NN !! ) and as a result NN didn't open until ~ 1100 !! People took that the wrong way and stock went down to 34. By the time things were sorted out it close at 33. From then on went to 30, 28 for 2-4 weeks then during some bad moments was down to about 26 1/2 INTRADAY and closed at 27 ( the lowest ). I think people were using this as an excuse to play games with it, however at that time the PE was 80 ( at US$ 74 )and the PE came to 19 only when it got to ~ $28. At that time it became a buy and since then it slowly started going back up 50-60 in the summer of 95. At that point ( June I think) some analyst from UBS was written up in the Wall St Jour as having called all his clients notifying them that NN would not meet their numbers in Aug. That proved to be wrong but NN tanked to 42, ( for 1 day, which is were I bought it; I sold it before it hit 138 #!>!%&$ ); funny that would be 21 pre split!.. ~the same price I bought it 2 days ago!! At that time though PE was 25, now it's 22. Also at that time ATMs were still just being accepted hesitatingly and no 36170 was around, no Siemens. Now, at the SAME $22post split price as then ( $44), you get Siemens, 100 countries, 200 telcos, telecom bill is passed,ATMs are accepted , the Internet explosion is about to erupt, and 36170 is growing at > than 100%/year. This summer big contracts coming up. AT$T is about to buy. I don't think NN will stay at 22 very long. TA