The next K-Tel will be GDNO- except it won't collapse. :) I just saw a newswire article about these guys, and they're devoted SOLELY to selling music over the net. The president of peermusic (the largest privately held record distributor on earth) is on the board of directors, and the chairman of the board _literally_ wrote the book on music licensing. check out their website at www.goodnoise.com.
Also, something I found interesting, is that their PR guy recently quit Infoseek and is now the PR guy for goodnoise- he must have had a crapload of infoseek options that he'll never see vest, so I expect he's planning to get even richer on this stock. Currently trading around 7 bucks, I picked up 15,000 shares today. And remember folks, all I _ever_ do is short net stocks, but this one looks like it could skyrocket, at least in the short term.
I also noticed that half the people working there are ex-PGP employees who know encryption inside and out- which is vitally important for labels worrying about piracy..
I expect this thing to hit 15 in a week on pure speculation.. Not saying I'm in it for the long term, but it looks like a sweet short term play. |
