Marc (03/23/83)
Does anyone know why Fortune Systems stock dropped over 5 points since it went public a couple of weeks ago? Any comments as to its up potential and/or product(s?) also appreciated! Marc Harrison BTL Holmdel (201) 949-1779
mikem (03/26/83)
Fortune Systems first public offering was gobbled up by the public and oversubscribed. The majority of the investors were simply after a high flying technology issue. What happened is that a lot of the investors expected the stock to rise soon after the offering; since all of the demand for the stock seemed to disappear once it started trading, there were a lot more sellers than buyers. We all know what happens to stocks when that happens. Also, some more factual notes -- the PE ratio was extremely sky high. For a better treatment, catch Dan Dorfman's column in the papers this week. One final note, if it was a good buy at $22 per share, it must be a great buy at $17! (This stock was one of the largest single initial offerings ever) Mike Mihalik
johnl (03/26/83)
#R:houxw:-12300:ima:15100001:000:431
ima!johnl Mar 25 12:03:00 1983
It's quite common for stock prices to bounce around a lot shortly after
it comes out, particularly if it's a hot issue that is oversubscribed.
Given that the offering statement says a whole lot about the company (it
has to, the SEC insists) what real info could investors learn the
following week that would affect the price?
John Levine, decvax!yale-co!jrl, ucbvax!cbosgd!ima!johnl,
{research|alice|rabbit|floyd|amd70}!ima!johnlelp@uvacs.UUCP (01/15/84)
Does anyone out there know anything about Fortune Systems. I've heard glowing reports that it is a good investment opportunity and would like to know if this is a company with a better than average chance of growth or is this just another High Tech flash in the pan ? Do they really have a Unix operating system that is of interest to ATT ??
burton@fortune.UUCP (01/20/84)
#R:uvacs:-113000:fortune:15300002:000:295
fortune!burton Jan 19 18:12:00 1984
I'm biased of course, but it is pulling out of its problems, and should do
nicely.
Philip Burton, Fortune Systems, 101 Twin Dolphin Drive,
Redwood City, CA 94065 (415) 595-8444 x 526
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{allegra,[decvax!decwrl,ucbvax]!amd70,cbosgd,harpo,hpda,ihnp4,sri-unix}
!fortune!burton