Audio and Radio on the Internet- NAVR Message Board

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Technology Stocks : Audio and Radio on the Internet- NAVR

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To: Byron Xiao who wrote (4545)	1/18/1999 8:51:00 PM
From: Lane Hall-Witt	of 27722

Byron, I think you're right to point to other stocks for comparison, other than BCST. Although I noted the BCST figures, I tend to believe that NetRadio would not perform as well as the BCST IPO, even under the best of circumstances. BCST has the advantage of being the first to go public and is already carrying the "best of class" label. The explosion of IPOs we'll see between now and NetRadio significantly changes the supply-and-demand situation, too. NAVR is moving too slowly to launch a rocket. Nonetheless, I do believe there's more upside from here. My gut-level figure for the NetRadio IPO is a market cap of $450-500 million, which indicates another 50 percent upside on a valuation basis. NAVR likely has hype and short multipliers working in its favor, also, so it could well go higher than my valuation models suggest it should (like DBCC). I guess it's greed and fear that'll tell the story in the end, anyway.

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