Thank you Heather, John Martin and your goodself for your various responses.
As I'm new to this thread (<1 week), I've read your posts, and the sum conclusion I come to is that all of you are bullish on NITE on the short and long term. Still, it would be worthwhile to consider the following:
a) daily trading volumes on NASDAQ in June have been generally lowest for the year
b) Q1 volumes were at record levels due to release of pension funds and general bullishness on internet stocks
c) we may be underestimating the release of the lockup stocks. As many of the stocks are held by electronic stockbroking firms which are busy investing in their own businesses, they may be liquidating immediately to cash in on an excellent return
d) What threat could Reuters' INSTINET pose to NITE? Have we understood the former's evolution in the context of the recent moves by NASDAQ to go global, extend trading hours, offer more direct services to investors, etc
e) What competitive response will the major full service brokerage houses (Merrill Lynch, et al) have towards NITE, as they see investors' funds move away from them into discount and electronic brokerage houses?
Thank you Patherzen and all for all your troubles, I would like to point out that the Merrill Lynch analyst who wrote the NITE piece was bullish on the stock, but if the EPS comes in at anything like the figures some folks here and on Yahoo have been estimating, we could be seeing a $70+ stock in no time...it just seems too good a story to believe for the moment!
Good luck to all NITE faithfuls...should be an interesting month ahead. |
