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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: gbh who wrote (3857)	9/28/1998 2:11:00 PM
From: Doughboy	Read Replies (1) \| Respond to of 12623

FWIW: Throw this in the hopper from Washington Post Business Section interview with Jeffrey Hooke, formerly of Lehman Bros. and author of Security Analysis on Wall Street: We've written a lot about the Ciena-Tellabs deal. Explain to me how a company whose stock was at $90 in July could be at $13 today. What's the fair valuation here? I've never sat down and gone through the stock, so I don't know what the fair value of Ciena is. But obviously at the numbers they were talking about they were suggesting a very high growth rate for Ciena, which in part was justified by its prior history, because it did have a nice growth rate. But then all these big customer pulled the rug out from under them. But there's also a technical reason for the stock being where it's at. If I had done [the analysis], often this is a good time to buy a stock like Ciena, because it has gotten beat up so bad. It is a technical imbalance in supply and demand so . . . it might be a good value. It is really dirt cheap.