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Technology Stocks : CyberCash a buy?
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To: Scott Loftesness who wrote (1739)7/16/1998 3:44:00 AM
From: h.l. meeks   of 3990
 
Scott: The IBM news is far more significant to me than the $15M dilution. At this price level Cybercash is roughly only a $150M company. The transaction software/web-commerce space will be dominated by a few big players in the end. Definitely not a space for mom and pop operations. Cybercash will ultimately become a $billion company, or they'll be swallowed up by one. 10% dilution is a dollar to me--at these levels. And CYCH is quite a way from profitability, but executing the business plan at this juncture means everything. I can stand some more cash-burn if they're getting some heavyweights on board. The IBM deal looks like they're executing, to me. This company is at a crossroads. They're either going to gain the critical mass over the next 3-6 quarters to become a real leader in e-commerce, or they're going to get taken over by a bigger player for their niche. Either way, at current prices the shareholders win. From a trading perspective you've got to love it. All the bad news and the worst of investor fears has already been priced into the stock. The short interest is very high and the float is small. A chart back to the IPO shows a classic triple bottom at $10/11. Buying in the low teens has historically led to some pretty sweet profits. I've noticed that even the bulls on this thread are pretty skeptical of CYCH's prospects, at this point. Nice setup for a strong rally, huh?
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