Word: iomega
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Dates: during 1996-1996
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...Ready Office NEC sells solutions, and this $3,000 small-business package doesn't disappoint. The uninterruptible power supply, Pentium processor and Iomega removable storage give the extras you need for an office machine...
Since starting its AOL forum in August 1994, the Fool's most notable accomplishment has been discovering a company called Iomega long before the wing tips in downtown Manhattan did. Iomega, based in Roy, Utah, makes devices for computers called Zip drives and Jaz drives that enable users to store massive amounts of information speedily, reliably and affordably. In early 1995, various Fools, as the participants call themselves, began posting news about the first Zips to hit the market. They soon put their money where their modems were and reaped the rewards. Many of the earliest posters on the Iomega...
...surprisingly, Iomega stock has achieved something like sacred status with its followers--and may also have created one of the biggest short-selling debacles in recent Wall Street history. Short sellers, who bet that the price of a stock will fall, thought they saw easy pickings in Iomega's skyrocketing price. Anticipating a slump, they borrowed millions of shares and immediately sold them, hoping to buy shares back later at a cheaper price. The slump never came, as the Fools furiously beat back any attempts made to bad-mouth the stock. According to the Wall Street Journal, the short sellers...