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Biotech / Medical : BICO & VITK -- Ignore unavailable to you. Want to Upgrade?

To: GC who wrote (2237)	12/22/1998 12:42:00 AM
From: Irv Dimont	Read Replies (1) \| Respond to of 2395

Lat week TEKC announced a stock repurchase program for 1.5 million shares. That comes out to be 6% of the outstanding shares and about 15% of the float. I don't think they will have to buy the stock to support the price, but if need be I think they will. As I see it those that wanted to get out because of the rev. split have already done so. Those that remain believe the the rev. split is good. What else explains the stock price increase since the record date for the R.S. and effective date get close. Dec. 22 is the record date and Dec. 28 is the effective date (as I understand it, but will get clarification tomorrow). We all know that a consistantly profitable internet related stock, even approaching NASDAQ listing is more likely to go up than down. This ones fundamentals would be tough to short. Even the slightest piece of good news and the stock could be another KTEL The differences are that TEKC is profitable (KTEL isn't) and you can't short a stock that isn't marginable, and bulletin board stocks aren't marginable. Rev. Splits are usually done by listed companies being threatened with de-listing (as was BICO). The can be shorted, and are. You can't short TEKC. That's another reason I don't expect it to go down. Once it is listed, no one would dare.