PARA<---------Im so sorry to pop your bubble, but you all own the wrong stock!!
BN Paramount Financial Benefits From a Case of Mistaken Identity
Sep 2 1999 6:15
Paramount Financial Benefits From a Case of Mistaken Identity
New York, Sept. 2 (Bloomberg) -- Paramount Financial shares
tripled yesterday after the company said it built a new barter
Web site for swapping merchandise and services over the Internet.
Small investors poured into the stock, making it the biggest
percentage gainer in North America. Internet users posted
messages proclaiming ``PARA is the next Ebay,' referring to the
biggest online auction site.
``Ebay can't be everything to everyone, but PARA has the
potential to be a $50 stock easily,' one message said.
Trouble is, Paramount doesn't own the site, called
TradeandSwap.com -- it only created it. The company was paid less
than $200,000 to develop it, said Glenn Nortman, its president.
``We don't have any ownership in it,' he said in an
interview. Nortman said he didn't know why the stock took off
after the company's press release. |
