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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank
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To: VALUESPEC who wrote (2063)7/9/1999 10:43:00 AM
From: Mike Milde  Read Replies (1) of 2414
 
valuespec, I don't think anyone is arguing that NetBank has advantages over a bricks-and-mortar bank. The concern about competition has to do with one of the other Internet only banks. NetBank is not the only one.

Why do you feel it will takes years for other Internet banks to get 75,000 accounts? That's really not very many. Getting accounts is the easy part - you just offer no fees, good rates, and do lots of marketing. What is NetBank doing that other Internet banks are not??

The one advantage NetBank does have at this point is name recognition and that counts for a lot. But I'm not sure how far that will take them.

You also seem to assume that a growing company equals a stock that moves up. Investors have already priced tons of future growth into the stock. NetBank can easily grow for years while their stock price falls.

Mike
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