SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: marvin litman who wrote (3174)7/2/1999 2:12:00 PM
From: DaveAu  Read Replies (4) of 8858
 
I'm out at 22.50. I had intended this to be a long term hold but, I guess with an internet stock, 8 months is long term.

IMO, there's a little too much uninformed enthusiasm in SNMM right now. They are not the leader everyone on this board and RB believes they are. Posters here have justified the overvaluation of SNMM compared to CRY with the higher growth rate of SNMM but its easy to post a high growth rate when your base is very low. Starnet has more licensees than anyone but I believe it will be much more difficult for new licensees to generate significant revenues than it was for the early internet casinos. There are now over 1000 internet casino web sites. A new casino that markets itself well may be able to build up solid revenues but most new ones will languish.

Also, don't assume that a Nasdaq listing will be a rocket ship ride. BID.COM is one recent example of a stock that fell heavily upon obtaining a Nasdaq listing. A Nasdaq listing makes the stock much easier to short for one thing. The shorters are all aware of SNMM (check out Anthony's thread) but they are waiting for now. If a lot of people are buying on margin, the shorts will be able to move it down very quickly when the time is right.

Also, don't forget that a lot of the people pushing the stock have already made huge gains and have taken profits along the way. They won't be the ones hurt in a correction.

Good luck to all.

BJ

P.S. No, I'm not a short. Yes, I am a CRY holder but if you check my posts both here and on the CRY board several months ago you'll see that I was advocating holding both stocks as they seemed to be the leaders. They still are but I think that all the good news is already built into the price of SNMM. The only people who should be in SNMM right now are quick moving day traders and momemtum investors.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News