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Technology Stocks : Avtel Communication (AVCO) -- Ignore unavailable to you. Want to Upgrade?

To: Oleg Sogolov who wrote (164)	11/13/1998 12:50:00 AM
From: Ted Gregg	Read Replies (2) \| Respond to of 461

Sorry, I shorted the stock with E*Trade at $24 using margin. If AVCO management issues a news release that clarifies what their business is, then it may open tomorrow. This would not inspire the buying we saw today once the facts are clear. The news agencies may have misinterpreted the news as AVCO owning some technology. This was possibly due to the news service's "internet irrational exuberance". AVCO only provides service which others have and will be offering using technology developed by AWRE, ORCTF, PAIR, TXN & WSTL. AVCO book value is $.48 with only 1.9M float, 9.66M total = $4.7M An earlier post mentioned they called AVCO after the news and they said they were planning to hire one salesman for this new service. Does not sound very big to me, or justify a market cap rising from about $20M to $300M in a day? If I were one of the insiders owning part of the remaining 9.66M shares I would be selling like a bandit into this froth, if I could. All IMHO, Ted