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I bought and sold AGS last year for a nice 75% profit. I still follow the stock and today bought in again. I'm hoping that it's now "oversold".
Why is it down so much ? Well, the whole sector of IT Services is down. Check out price charts of Keane (KEA), Ciber (CBR),or just about any other stock in this sector. The general fear seems to be that revenues will be down for companies that are (even somewhat)dependent on Y2K-solution contracts.
I don't think AGS will see valuations anything near where it was last year for quite awhile, but with it's P/E now around 7 it would seem to have room to double.
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