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View Full Version : Cigarette Racing Team sold



Gearhead99
09-04-2000, 05:35 PM
Heard a rumor that Cigarette was sold to Fountain. I heard it from a VERY reliable sorce in the business world.

Anyone else hear anything like this??

GeneD
09-05-2000, 08:55 AM
Scot B,
Heard anything?

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GeneD
007
Melbourne, Florida

Forrest
09-05-2000, 11:53 AM
It would be hard to believe that Fountain Powerboat Ind (FPWR) would be in any position to purchase Cigarette Racing Team since FPWR's market capitalization (the value of company based on the current share price times the number of shares issued) has fallen flat on it face over the last couple of years and they probably don't have the capital to pull it off. Just take a look (http://www.siliconinvestor.com/research/chart.gsp?lotemp=&period=240&chart1=ma&s=FPWR&compare=&time=week&i0=1&chart=bar&i1=0&scale=linear&i2=0&i3=0). Last year, Fountain lost $0.27/share. This year they starting to do a little better, though, but it still looks like they have a long way to go. Also, you can bet that the insiders would know about it already if it were going to happen, and you would see lots of stock trading volume along with a price rise at this time. As of this writing, Fountain's stock is sitting at 2-5/16 (that's $2.31 per share) on only 1200 shares traded today so far. Not a sign of anything earth-shaking going on.

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Forrest

[This message has been edited by Forrest (edited 09-05-2000).]

Frank Civitano
09-05-2000, 03:46 PM
I was with Pat Patel sat night. He said nothing about Cigarette are Reggie.

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Frank Civitano

oldLenny
09-05-2000, 03:48 PM
"Just take a look"... Are you sure that that is not a graph of everything that I have invested in in the last five years?...Sure looks familiar, except for the fact that it is still trading...