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Technology Stocks : Freeserve (FREE)
FREE 4.8700.0%Aug 5 5:00 PM EST
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To: Russell Haggar who wrote (30)8/10/1999 12:35:00 AM
From: Glenn Petersen  Read Replies (1) of 58
 
I think that two factors are at work here. First, FREE almost doubled from its initial offering price, so some profit taking was inevitable. Secondly, at 40 1/8, each of FREE's subscribers was being valued at $3,109. At today's closing price, the valuation is still a pricey $2,354. In contrast, ELNK and ONEM subscribers are being valued at less than $1,000 each. While Europe has more growth potential than the U.S., the free ISP economic model is still unproven and there do not appear to be any significant barriers precluding more competitors.
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