April 04, 2004

Woke Up This Morning And Found Myself…A Nanotech Company?

Perhaps one of the signs that a hype bubble is inflating is when journalists scramble to break news without checking the facts. Ok, we can forgive some of the more lurid celebrity scandals in the tabloids, those can always be fixed with an apology buried at the bottom of page 23, but we expect a little more due diligence from financial publications. After all confusing IBM with an ICBM could have serious consequences, and the excuse that the companies have similar names or tickers should probably make you check your disclaimers. The one in question wisely states that "Neither MarketWatch.com or Information Providers guarantees the accuracy, completeness or timeliness of, or otherwise endorses, these views, opinions or recommendations, gives investment advice, or advocates the purchase or sale of any security or investment." Lets take a look at why.

Stand up and take a bow Shawn Langlois, of CBS Marketwatch who, in common with many people, fails to see the relevance of nanotechnology to many of the companies in the index confining himself to descriptions such as "chip equipment maker" or "drug delivery technology company." Now so far we'll give him the benefit of the doubt, as drug delivery and semiconductor equipment could be related to nanotechnology.

Shawn swallows the hook, line and sinker with FEI, slavishly reproducing the facts about "Frequency Electronics, a maker of frequency, timing and synchronization products for voice, video and data telecommunications. " Doh! Wasn't that actually FEI Company, whose ticker symbol is FEIC? You know the electron microscopy and focussed ion beam manufacturers that announced breaking the angstrom resolution limit last week? Maybe it's unfair to Shawn, as the web boffins behind CBS Marketwatch have now inextricably linked Frequency Electronics to nanotechnology.

Let's see what happens to their price on Monday.

Posted by Cientifica at April 4, 2004 04:36 PM | TrackBack
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