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To: Lupus who wrote (20095)	12/1/1998 4:42:00 PM
From: kendall harmon	Respond to of 119973

no,first albany downgraded wavo based on price during the day. In retrospect it will be similar to smith barney downgrading bamm on wednesday of last week--and bamm gapped up friday.

To: Lupus who wrote (20095)	12/1/1998 4:45:00 PM
From: chickenman	Respond to of 119973

WAVO still trading... 4:40 EST... ha!... all buys at 15 1/4... First Albany downgraded WAVO from STRONG BUY to NEUTRAL... earlier today around 2:00... WAVO all buys still... jeez... must be late reporting... ALL AT 15 1/4... that's wierd... like a hundred or so trades after hours... WAVO GAPPO and then some... chickada

To: Lupus who wrote (20095)	12/1/1998 6:03:00 PM
From: ilh1	Read Replies (2) \| Respond to of 119973

Note that First Albany also praises WAVO in their statement on CBS market watch: "First Albany analyst Joel Krasner said in a research note that he downgraded WavePhore because the trading price exceeded his $12-per-share, based on ten times the company's 1999 estimated revenue.(From strong buy to neutral) "Our revenue and net loss estimates remain unchanged," he said. "Our change in opinion does not reflect any deterioration in our outlook for the company's business. In fact, the recent two announcements reinforce the likelihood that WaveTop could be a successful service."