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Non-Tech : Valley Media (VMIX) IPO
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To: Glenn Petersen who wrote (195)6/18/1999 8:44:00 PM
From: Paul Hackett   of 298
 
I agree that tremendous growth is obviously a good thing. But in this case mgmt. could have given additional warnings earlier, although it was mentioned as a risk in their S-1 before they went public. Nonetheless, it should be considered an excellent opportunity to purchase add'tl. shares. I think mgmt. does need to learn to anticipate neg. news earlier.

I recently visited their new warehouse. I tried to get a tour, but was unsuccessful. All Valley employees appeared extremely busy. And according to several with whom I spoke, everything seems to be advancing quite well. It is a huge and impressive facility, but it's currently a mess, as to be expected due to the transition process. Still, absolutely no reason for a 30% drop of the company's already low market cap. I'm accumulating at these bargain prices and am ready to add more if it falls further.
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