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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: killybegs who wrote (4027)	12/14/1998 9:25:00 PM
From: timothy alan morris	Read Replies (1) \| Respond to of 17679

Found this tidbit in the "Letters" column in the current issue of Individual Investor magazine. The reader writes: "Please provide an update on Ampex Corp. (Amex: AXC), a 1996 Magic 25 pick that makes data storage devices. Shares have dropped below $1, and I'd like to know: Is this a buying opportunity or just a bad stock?" Individual Investor replies: "A bad stock. The company came to our attention after alot of insider buying; it held our attention with the promise of 'keepered media' technology, a supposed Ampex innovation touted as a revolutionary force in data storage. Ampex has dissappointed investors for four years, and it has very little earnings visibility." I hate to admit I was one of those who first heard the Ampex story from reading Individual Investor. Like Gus and others my first shares were pink sheet lots, and I have made the trip from $3 to $15 to $1, adding to my position along the way. I have bought as low as $7/8 and as high as $10, with an average price per share just above $2. If it ever gets back to $15 I should be able to retire early with the number of shares I have accumulated! They are tucked away in a SEP-IRA, so selling for tax purposes is not a factor. Fortunately my AXC represents less than 2% of my portfolio, so the loss has been more to my ego than to my pocketbook. To all who keep this thread chugging along, thanks. Hopefully we will all someday be rewarded for our patience and persistence. New Years Resolution: Cancel my subscription to Individual Investor. Tim