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Technology Stocks : Internet Guru Discussion

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To: Jeff Dryer who wrote ()11/7/1999 12:36:00 AM
From: Paul Hackett   of 4337
 
Steve, after Valley Media (VMIX) went public you related that it looked like a good target for acquisition. Since that time they reported unexpected warehouse moving expenses, missed one earnings estimate, but have otherwise performed very well and have doubled the last earnings forecast, yet VMIX' stock continues to languish.

I believe it's very under-priced at these levels ($9.75) and is a sound company well-positioned in a rapidly growing industry (Internet e-commerce order fulfillment). Has your opinion on the company changed and why do you think the stock price is being pounded in spite of all the positives surrounding the company?
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