---------- Forwarded message ----------
Date: Sun, 15 Jun 1997 23:05:25 -0700
From: spaceman@spaceinvestor.com
To: Space Investors Mailing List <space-investors@LunaCity.com>
Subject: Iridium IPO. O.K. First Week.
>
> Well, Iridium (IRIDF) came out of the gate solidly on June 9th. Opened
> at $20 per share and ran to $22. It missed the $24 mark that Wall
Street
> had predicted. But, considering the fate of many recent IPO failures the
> fact that IRIDF is still above it's offering price is a good sign that it
> was priced well and that the reaction is not negative. The only way it
> will get higher this next month is if some Mutual Funds purchase it into
> their portfolios. But, I don't think many will.
>
> Expect the Stock to briefly decline under the offer price after their
first
> earnings report. Wall Street has a tendancy to downgrade companies
that
> have no Positive earnings to substantiate their current price levels.
And
> they don't like systems where they can't understand the complexity.
> Iridium won't reach profitability until after 2000. It is hard to say
if
> more people will buy it on future expectation or avoid it due to risk. I
> believe this will be answered the next few months.
>
> When the stock declines watch carefully and purchase it on the first
signs
> of recovery. In the long term this stock and company is going to make a
> huge amount of money for themselves and for future thinking investors.
> Also keep a close watch on the Sponsers of the project as they will also
> reap the benefits from Iridium. ie Motorola,
>
> For more information and other great stock tips please stop by the Space
> Investor Web site at
>
> www.spaceinvestor.com
>
> Thank-you and happy investing
>
> Tom Marchesello
> CEO, Space Investor