Great article, here is an excerpt:
But, one stock that could finally recover soon is
TownPagesNet.com Plc (AMEX: TPN - Quotes,
News, Boards), which issued 2.2 million
American Depositary Shares at $10 a pop back in
late April. After briefly climbing as high as $13.50,
the shares sank to a low of $7.25. They have
recently rallied back to $9.13.
The stock has suffered for several reasons. For
one thing, all net stocks have been hammered, of
course.
Also, it's a U.k.-based company.
And its lead underwriter was not exactly a bluechip
name--Dirks &Co., home of the legendary Ray
Dirks. 'Investors want to feel comfortable with the
after market support,' explains David Menlow,
president of IPO Financial Network. 'It may be
suffering from a little investor concern. It has no
punch.'
However, the shares could receive that punch after
it announces two acquisitions on Monday, June 14.....
iionline.com |
