Following the crowd…

October 22, 2003

Up until yesterday, I had never heard of Pumatech (PUMA) , a San Jose software company that primarily focuses on the wireless market. But the company caught my attention when I noticed that they had filed a 200-page plus 10-K yesterday. So I decided to take a closer look, figuring there had to be something good disclosed in all that verbiage. After all, General Electric’s 10-K last year was only 160 pages, and it’s a slightly larger company. What I found was that PUMA’s stock has risen more than 25-fold over the past year — it’s now trading at around $6 a share — and that it was the subject of lots of chatter on Yahoo’s stock message boards, which is always a great place to get the most accurate and unbiased information about a particular stock. Not! One can only hope that all of those people who were weighing in on Puma’s prospects — it’s either going down to a buck or up to $25, according to the people on the message board — were spending some time with the K.

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