A Hot Splice In Video And Audio?

Not everybody thinks mergers are made in heaven, even if the parties involved do. When HMG Digital Technologies announced in mid-June it was merging with privately owned Allied Film Laboratory, HMG shares skidded from 71/2 to 61/4. Since then, it has continued sliding, to 51/2. But money manager Gary Kaminsky of Cowen & Co. is far from discouraged. He has been buying despite the dip. Why?

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