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Non-Tech : Valley Media (VMIX) IPO
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To: blankmind who wrote (201)6/20/1999 12:27:00 PM
From: Paul Hackett  Read Replies (2) of 298
 
I'm not saying that many people knew, but since the stock had dropped for 5 consecutive days (the 1st time that happened since it went public) before the announcement was made albeit relatively low volume, this would lead me to think that at least some investors had knowledge of the announcement. "I told 2 friends, and he told 2 friends, etc" I don't think it's anything out of the ordinary. It seems to happen a lot regarding surprise negative (and positive) announcements with any publicly traded company.

I may be completely wrong, but it seems like more than a coincidence. I still like VMIX' prospects none-the-less and will continue to accumulate at these bargain basement prices. Who knows this may turn out to be a great buying opportunity. I recently read Tom Stemberg's book on the founding of the STAPLES' company. He mentions how on more than one occasion, STAPLES' stock plummeted on bad information which one analyst published. The market overreacted. The company recovered just fine and subsequently thrived. VMIX is certainly capable of recovering from this sell-off in the near future and I hope they do.

The fundamentals look very attractive. We have a company distributing for 70% of the Internet music e-tailers, has almost $1 billion in sales, is overall profitable, has I-revenues growing in the triple digits, has a great traditional distribution business and has a market cap of slightly more than $100 million. 1/10th of revenues. One of the few clearly underpriced Internet related companies.
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