I've got another niche retailer (ELBO) that went public last summer, at 14 sold off through the fall to 6 and then went to 27, selling off again to the 13's this spring spending the last 6 months in the 14-18 range and is just gaining strength to carry it though the Christmas season.
Its easy to loose perspective with Internut stuff going up 2-5 fold. ZANY is a niche retailer that given its segment should be resistant to a softening of the market and should also do well in the fall to Christmas shopping season. Assuming a profitable year end and continued growth in same store sales and new stores ZANY can do well. E-commerce hype could help push the stock.
At the least this is a 6 month hold to have a chance of seeing anything meaningfull, potentially 2-3 year before it grows up and develops a track record.
Unlike the internuts the barriers to entry are significant as the internut business model stinks as too many people can get in quick and competition drives profit out of a business.
I'm into this in the 8's and will double up if it hits 6 and don't really bother checking how its doing. BTW here's some details on ownership:
IMO this stock had wide public ownership from the get go, as such it is probably suffering churn.
Mad2
Short interest Jul 99 167,799 +333 585,929 1
Institutional Holdings:(1,466,000 or 7.1% or possibly double)
LORD, ABBETT & COMPANY 442.0 442 06/30/99 2.16
LORD, ABBETT & COMPANY 442.0 442 06/30/99 2.16
PUTNAM INVESTMENT MANAGEMENT 358.0 358 06/30/99 1.75
PUTNAM INVESTMENT MANAGEMENT 358.0 358 06/30/99 1.75
JOHN HANCOCK ADVISERS, INC. 137.5 138 06/30/99 0.67
JOHN HANCOCK ADVISERS, INC. 137.5 138 06/30/99 0.67
LASALLE NATIONAL BANK 87.0 87 06/30/99 0.43
LASALLE NATIONAL BANK 87.0 87 06/30/99 0.43
Top Mutual Funds Chg. in Shr. Shares Held Date Rptd. % Held.
LORD ABBETT DEVEL GROWTH FD 442.0 442 06/30/99 2.16
BLACKROCK SML CAP GR EQ PTF
Insider Holdings(3,866,500 or 18.8%
FOX ROBERT A DO Holdings 05/31/99 06/02/99 785,717
FOX ROBERT A DO Holdings 05/31/99 06/02/99 396,503
ALLEN PAUL G B Holdings 05/31/99 06/02/99 224,187
SCHLESSINGER DAVID B Holdings 05/31/99 06/02/99 2,054,550
SISTERON YVES DO Holdings 05/31/99 06/02/99 158,942
SISTERON YVES DO Holdings 05/31/99 06/02/99 105,549
GALLAGHER GERALD D Holdings 05/31/99 06/02/99 48,700
DORSEY C DONALD & D Holdings 05/31/99 06/02/99 1,430
VULCAN VENTURES INC B Holdings 05/31/99 06/02/99 224,187
WACHS DAVID D Holdings 05/31/99 06/02/99 75,000
WACHS DAVID D Holdings 05/31/99 06/02/99 18,750 |
