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abprosys@xxxxxxx:
>>... there are an awful lot of these companies offering Y2K automatic fix-up
programs and factory services<<
qnla@xxxxxxxxx:
>>I've stopped following the stock so I don't know if the story got better.<<
The bulge in price that occurred in 4/97 was due to a combination of rumors
that FRX was to about to move to AMEX, and shorters covering their positions.
When all shorts were covered and the rumors were found to be "premature", price
fell back to $12.
Nonetheless, with capacity for 1 million lines/day conversion, FRX is poised to
take on the crunch. Yes, there are other firms ready too, and all will be very
busy. But profit comes with % price change in perceived value, and with only
10 million shares floating, this still relatively unknown firm stands to make a
large % increase this year.
Some preliminary calculations:
$100M annual / 10M shares * PEratio 5 = $50/share. It's now near 12.
- Mark Jurik
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