Wall Street: The Profitless Wonder

When the stock of the Communications Satellite Corp. went on the market six months ago at $20 a share, demand for it was so great that brokers rationed it to 50 shares or less per customer and only the favored few got their piece of space. But professional Wall Streeters generally stood aloof, willing to sell it but not so willing to buy. Comsat might become the bluest of space-age blue chips, they said, but that was many profitless years away.

The professionals failed to assess prop erly the romance of space and, as a result, vastly underestimated Comsat's continued...

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