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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Robert S. who wrote (335)	3/11/1999 9:20:00 AM
From: MangoBoy	Read Replies (1) \| Respond to of 15615

preopen bid is 42, a 2.125 gap over yesterday's intraday high.

To: Robert S. who wrote (335)	3/11/1999 5:43:00 PM
From: Robert Scott	Respond to of 15615

Certainly is good news - hang on for the ride or... I bought at 13.375 back in Sept. Stock is up 231% since then. Of course, stocks can move up 4-500% in a year - if an interent stock then 1000%. But let me caution everyone out there - this is not an internet stock. Telecom is a very capital intensive industry and is very competitive. However, the barriers to entry are very high so this is a real positive. One of the problems with this stock is that there are now over 425M shares out = near $20B in market cap with revenues from sales of bandwidth = not recurring. They are getting into the recurring revenues business but that takes time and there are many competitors. Do not fall in love with this stock. It is a good company in a growing business but it will have to move smartly over next several years to justify this market cap. Disclaimer - I sold 3/4 of my position at 74 (37) and another 1/8 at 45 today. I am putting a stop at 40 for remainder. It's been fun and with the mania around here this stock could go to 60-70 = maybe it will be like AOL and split each quarter ;^). Hope I am wrong about it being overvalued for you longs. For me, there are other pastures hopefully that are greener til GBLX becomes a better value.