Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (1619)	8/7/1998 3:29:00 PM
From: David S.	Respond to of 2506

was this the firm that Montgomery Securites 18 months ago was it's favorite contract manufacturer?

To: Q. who wrote (1619)	8/7/1998 6:59:00 PM
From: Troy Shaw	Read Replies (2) \| Respond to of 2506

John G., I believe you followed SyQuest in the past, have you looked at it at all recently? It hit $0.50 today on news of a layoff of 43% (950 employees), with an estimate of a loss for June 30 quarter to be slightly larger than March 31 quarter with revenues slightly down. March 31 quarter was $29.9M loss on $47M revenue. Also, it was mentioned that the Sept. 31 quarter will be about the same. According to their latest S-3/A filing (if I'm reading it right) which is from July 30th, SyQuest still has $108M dollars worth of previous financing in the form of preferred stock still waiting to convert to common. With a market cap of around $53M now, looks like trouble to me. I don't see how they can pull out of this. They are going to need additional financing, but where can it come from now. Just thought you might find it interesting.