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Technology Stocks : Globalnet GLBND (Formerly MFSI)
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To: LT who wrote (109)6/26/1999 11:20:00 PM
From: Chris Helton  Read Replies (1) of 202
 
I doubt the company is falling apart at the seems. The company recently received $20 million of new investment and is likely to receive more soon.
What is more likely is that many people who bought this stock were expecting a quick "Internet" stock valuation and are bailing out as they see it takes more than just two or three months to build a real company. GLBN has two really good Internet sites (and will have five or six more all linked together) and is a firm who will pick up ad revenues since they offer a value proposition, but the large future revenues will come from brokerage. I think their business model will become evident in July. $2/sh is a steal for the patient investor.
The $20/sh valuation proposed by someone may come to pass. But that will take at least another year and quite a few more strategic relationships.
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