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Should have Sold in Feb 2004







How Low Can it Go?
Nortel (NT:NYSE) dropped to 45 cents this morning, giving the company a market capitalization of $226.1-million. (Keep in the mind, the major stock indices are down 1% to 2% today).
The question is how low can Nortel go? Is Mark Sue’s target price of zero that far away?
Clearly, investors have lost confidence in Nortel’s prospects and strategic direction, so now what?
Two schools of thought: one, Nortel’s doomed due to its uncertain financial prospects, volatile economic conditions and cash burn; or two, Nortel is becoming a no-brainer bargain if CEO Mike Zafirovski’s plan to reduce operating expenses and focus on enterprise, software and telecom pays off.
What’s an investor to do?
Technorati Tags: mike zafirovski, Nortel