] Covad Communications lost nearly half its value Thursday
] when federal regulators ruled to institute a three-year
] phase-out of the discounted network lines the company has
] enjoyed. The selling continued apace Friday.
]
] But some say the decline has been too steep.
]
] "The selling is absurd," said Vik Grover, an analyst at
] Kaufman Bros. "From my perspective, this is not a game
] ender, it's a game changer."