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Technology Stocks : CMGI What is the latest news on this stock?
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To: Kayaker who wrote (10553)6/21/1999 1:48:00 PM
From: astyanax  Read Replies (1) of 19700
 
$200 Reward for Softbank oddlot purchase [slightly off topic]:

I need both feedback and help on a foreign security -
SOFTBANK (known as "The Japanese CMGI" by some followers) - which trades on the Nikkei (9984) and
Frankfurt Exchanges (891624). It does not have an
ADR but has a clearing symbol (SFTBF) which appears
to be restricted to round-lot purchases by market
makers.

However, it appears (based on trading volume and message
board posters relaying their experience) that odd lot shares
can be purchased, particularly from the Frankfurt exchange.

It was big news a few months ago when Softbank and Morningstar announced
a joint venture for financial services to be offered in Japan.
Softbank is a 50% backer of the new Japan NASDAQ, and major shareholder
of Geocities, Yahoo!, E*Trade, Ziff-Davis, etc. In an interview, I believe CEO Masayoshi Son derided the fact that CMGI has a much higher valuation for similar assets than does Softbank...

I have tried repeatedly to buy an odd lot of this security for the
past 2-3 months. In my desperation, I am now offering a $200 reward
for anyone who can directly facilitate such a purchase for me.

I'll let you read my posting titled: **$200 REWARD FOR SOFTBANK
ODD LOT TRADE REFERENCE** at
ragingbull.com
OR see my SOFTBANK Odd-Lot Desperation Website at
netconductor.com for further details.
Ladies and Gentlemen, this is Internet Mania at its finest!

Softbank is a holding of T Rowe Price Technology Fund. I found this to be
quite a startling fact considering: 1)Manager Chip Morris has been one of the
most bearish technology fund managers regarding Net stocks 2)He only holds 3
stocks (approximately 4% of portfolio) in that sector. Softbank is the top
holding of Warburg Pincus Japan Growth and a top 5 holding of T Rowe Price
Japan Funds.

Lehman Brothers analyst Ravi Sarathy made the startling observation that even
if the entire Net sector were to lose 50%, Softbank would still be undervalued.
Sarathy gave Softbank their highest "buy-1" rating with a price target (based
on current yen exchange rates) of $345 (that is not a typo). This is when it
was around $120 per share. Softbank has been skyrocketing out of control
the last few weeks (now $180) despite the fact the Net sector has struggled.
Softbank has just hit a new all-time high despite the fact its underlying
Net holdings are off by 1/3rd or more.

For more info on this stock, check out:
geocities.com

- Netconductor.com
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