Your take on the following from Briefing.com would be much appreciated in light of your critique..
briefing.com
Excerpt..
"VERISIGN (VRSN) 28 -1. The numbers keep rolling in on this highflying, stock market fledgling. Prognosticators from Hambrecht & Quist and Morgan Stanley are the latest to voice their views, with H&Q starting the stock with a "buy" rating and Morgan Stanley an "outperform." Earlier this month, BA Robertson Stephens initiated coverage with a less flattering "long-term outperform" rating. According to co-underwriter Hambrecht & Quist, the provider of digital certificate systems for ensuring secure transactions over the Internet is poised to benefit from the spectacular growth in the electronic commerce market. By the end of 2001, H&Q predicts that this market will stand at $176 billion. But unlike most young Internet plays, investors are expected to see profits out of VeriSign within only a few years. With the moratorium on shorting the stock expiring in just over a week, VRSN will soon be seen as an attractive play by both longs and shorts. Certainly, a look at the fundamentals would suggest that VRSN shares are already ridiculously overvalued, currently trading exactly 100% above their IPO price . But when has that ever prevented the shares of a highly-regarded Internet stock from soaring and, in the process, breaking the backs of shorts. "
DD |
