MPPP<----absolute garbage and the Buy rating is joke intended to rip off the public, as usual.
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MPPP<-------The concept is bad and the idea is a failure ,,Noone wants ..noname talent and the occasional news falsh is meaningless long term.. I know in my bones that MPPP is a zero in 3 years and in the near term a single digit.
San Diego, Sept. 24 (Bloomberg) -- Shares of MP3.com Inc., a
distributor of digital music on the Internet, rose 27 percent
after Sony Corp. unveiled a portable device that plays the
digital music files found on MP3.com's Web site.
MP3.com rose 9 1/2 to 44 9/16 in trading of 3.45 million
shares, more than twice its daily average since the company first
sold shares to the public on July 21.
Sony Corp., a consumer-electronics giant and one of the
world's five biggest music companies, yesterday unveiled a
Walkman player that plays about an hour of MP3 music files
downloaded from a personal computer. Estimates for the market for
such files by 2003 vary widely, from $147 million by some
analysts to $1.1 billion by others.
``It legitimizes the MP3 marketplace,' said International
Data Corp. analyst Kevin Hause. ``In some ways it can be seen as
an endorsement of digital distribution.'
San Diego-based MP3.com also said today that it teamed upwith RealNetworks Inc., which makes software for playing Internet
music on PCs. Under that agreement, MP3.com will dedicate Web
pages to products for RealNetworks' RealJukebox player, which
will have a function linking it to MP3.com's music library. In
the future, RealJukebox users will have the option of receiving
MP3.com's top 10 songs downloaded to their players each week.
``Forging an agreement with Real and all of the activity in
the device space may have helped move the stock,' said Jupiter
Communications Inc. analyst Mark Mooradian. ``Any time they
increase their distribution and reach, it gets them attention.'
Other analysts said MP3.com shares may have been pushed
higher as investors bought shares to cover short positions. In a
short sale, investors sell borrowed shares anticipating that the
price will drop. If the shares rise, though, investors will buy
shares to repay the ones they've borrowed.
``Given the number of institutions I spoke to today that are
still short the stock, I think there was a short squeeze going
on,' said Hambrecht & Quist analyst Daniel Rimer. There were 1.1
million shares sold short on MP3.com in August.
Many of the bands with music posted on MP3.com's Web site
are relatively unknown. Some analysts say MP3.com will face
increasing competition as major record labels and big
independents post more titles on the Internet in digital form.
``Over the next six to 12 months, MP3.com will steadily move
from the leading music site on the Web to an also-ran,' said
Forrester Research analyst Mark Hardie in a recent interview.
--John Lyons in the San Francisco newsroom (415) 743-3519
/dfr/smw/jac
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