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9/19/2017 7:27:10 PM
Posted: 7/9/2002 5:36:19 PM EDT
Right now the ocst per share is like 20 cents. I was thinking about throwing like $500 bucks at this stock just to take a gamble. I'm by no means rich but I won't be homeless if I lose the money. What would you do?
Link Posted: 7/9/2002 5:50:17 PM EDT
Link Posted: 7/9/2002 5:56:53 PM EDT
at the rate that telecom crap has fallen you'd be better served just taking the 500$ and sending them to me. hell, ill even send you correctly calculated documents showing you what i wasted it on... beer...whores...ya know... WHERE THE BIGWIGS BE BALLIN'
Link Posted: 7/9/2002 5:59:13 PM EDT
Yes, take a loan on your 401K and invest the freed up cash in Worldcom stock. Buy now at bargain prices!!
Link Posted: 7/9/2002 6:02:17 PM EDT
Link Posted: 7/9/2002 6:05:26 PM EDT
-$30 billion in debt -$2 billion in cash -Large amount of debt maturing early in 2003 (around $2 billion?...Sidgemore mentioned it during the press conference last week) -Still negotiating with banks for financing -Losses in 2001 and Q1 2002 -Possibly further accounting "mistakes" in 1999 and 2000 My math shows a lot of red. Unless you're daytrading (using a lot more than $500), it'll probably be lost.
Link Posted: 7/9/2002 7:58:07 PM EDT
Originally Posted By nobby: Right now the ocst per share is like 20 cents. I was thinking about throwing like $500 bucks at this stock just to take a gamble. I'm by no means rich but I won't be homeless if I lose the money. What would you do?
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I'd buy a gun. Investment-wise? Buying WCOM (or WCOME) doesn't make any sense to me. When you buy stock, you should either be buying for the dividend, or buying for future growth. WCOM has no dividend. Anything it earns will go to service its massive debt. It's in a really competitive industry. It totally overcapitalized itself, buying way more network equipment than it can use, or that there is demand for. This company is dead meat on a stick. Why in god's name you you want to own it? If you want to buy something with upside potential, look at small unhedged gold producers like Harmony Gold, Durban Roodeport, or GSRSF, a small exploration comapany. If not for speculation, look at buying them as a sort of insurance policy if the financial system starts falling apart, and investors seek a safe haven. They'll go straight to gold. You'll clean up.
Link Posted: 7/9/2002 8:00:30 PM EDT
I didn't know it was still trading.
Link Posted: 7/9/2002 8:07:29 PM EDT
If you want to assume the risk, its a great speculative move. If it goes to 40c you have a grand- $1 you have $2500! But if it craps- or if the company is dissolved you LOSE. its like lotto....
Link Posted: 7/9/2002 8:16:47 PM EDT
I thought it was closed off, but honestly, I'd probably buy $20 or $50. $100 if I really felt like throwing my money away. $500 is just nuts. Actually considered buying Enron stock when they were so cheap. But in the end, figured in best interest to just not bother with the whole stock thing... Besides gotta pay the broker and stuff right? Then again, go for it, maybe you can prove us all wrong while you're in your mansion with a huge vault full of weapons...[:D]
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