Explains todays move. Lots more to the upside I feel:
Monday, August 14, 2000
-- 8/14/2000 2:54:00 PM ITRA CEO invests in company
Intraware Inc. (itra: news, chart) is adding 1 1/2, or 27.3 percent, to 7, in late afternoon trading. The Orinda, Calif., provider of Web-based business software and services wasn't immediately for comment. Craig Vogel, an analyst with Banc of America, attributed Monday's interest to extreme depreciation in the stock of late. "It's been a rough couple of weeks," said Vogel, who has a "buy" rating on the stock. "There's been some concerns about a possible cash crunch." Vogel said he doesn't think Intraware is in danger of going bankrupt and that the stock represents an "interesting opportunity" at these levels. "This isn't a company that's going to go away," he added. "They have enough money to hang around long enough for the business model to mature." As of March 30, Intraware had $14.5 million in cash. A spokesman for Intraware noted that the only new information available on the company was that its CEO Peter Jackson purchased 40,000 Intraware shares at roughly $7.38 each about two weeks ago. |
