GoTo.com, promising Internet search engine Message Board

STOCKTALK

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.

Technology Stocks : GoTo.com, promising Internet search engine

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: ChinuSFO who wrote (228)	7/4/1999 12:57:00 PM
From: Chi-X	of 977

Bullish GOTO writeup at Briefing.Com as follows. briefing.com 12:10 ET ****** GoTo.com Inc. (GOTO) 47 7/8 +11 3/8: Timing is everything. Shares of Internet search engine/advertising site continue their upward trend as the stock is up another 31.2% today after posting a 30.4% gain yesterday following the positive debut of Ask Jeeves (ASKJ 68 3/8 +3 7/16), a plain English Internet search engine. This is a good example of how a little bit of good news can go a long ways in creating a better buying environment for Internet stocks. After all, nothing fundamentally has changed at GoTo.com from the start of this week when investors could have bought the stock for as little as $22. Mind you, the stock went public at $15 just two weeks ago and quickly rose to $22 3/8 after the first day of trading. However, since its debut, the stock has been a flat-liner insofar as Internet issues are concerned, trading not much higher that $26 during this short two-week period. When the issue came public, the market was in the middle of an interest rate scare and supply of new issues were plentiful. While smart money is discriminating and will always gravitate towards sound values, sometimes issues like GoTo.com can have a hard time rising above the clutter. Yesterday's successful sale of Ask Jeeves has changed the perception about this stock, although GOTO had potential to do better on its own, had it had a more friendly and less crowded environment when it made its IPO appearance. Still, this week's trading demonstrates how quickly perceptions about a stock can change, especially when the trading environment becomes more friendly and investors have the time to distinguish between value and junk. To be sure, day-traders noticed the hidden potential in GOTO a few days ago, bidding the stock up ahead of the Ask Jeeves IPO debut. - RN

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next