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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Chip Anderson who wrote (2502)	4/23/1998 6:12:00 PM
From: Matt Webster	Respond to of 16960

I'd also like to point out that the NASDAQ was down 36 points today. TDFX lost hardly more in percentage terms than the broader technology market. I think this strong close and relatively small gain is a great sign of strength. Remember there were only 14 million shares outstanding, so to have 3 million dumped on the market is a huge percentage. That is the equivalent of 600 Million shares of Microsoft. Let's say that one of MSFT's original large shareholders like Paul Allen or Ballmer dumped 600 million shares of Mr. Softee. Would it go down more than a couple percent? You bet! Now don't criticize me for making stupid analogies because I know that it is not the exact same situation. I only make the point that such a huge portion of the float to be digested is bound to have a short term effect on price. Ride it out and hopefully everything will be okay. I'm still waiting to hear about the Merrill Lynch meeting. Anyone? Matt