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Strategies & Market Trends : Wire to Wire Daily Stock Picking

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To: Jeffrey L. Henken who wrote (1685)	7/15/1999 10:49:00 PM
From: chalu2	Read Replies (1) of 3514

DIDA Closing Bid/Ask = .24/.34 Closing Price 7/15/99: .27 Outstanding: 2.31 million Float: 1.90 million DIDA is a shell company, with about $400,000 in cash, and very little operating activity. It has a book value of 9 cents, but this may be misleading. As a settlement of a failed merger, the Company received 150,000 shares of Internet Sports Network. It carries these shares on its books at cost: $60,000. But the present market value of these shares is $975,000. This adds 42 cents to the book value, bringing it up to about 51 cents. I believe the stock spikes on rumors of impending mergers. Of course, one day the rumors will be accurate. The possibilities for the stock if there is a merger are reflected, I believe, in the 52 week high--1 5/8. Unusual activity today on the upside--bears watching.

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