Robert, thanks for the link. Do I strike you as a raging bull type?
Here's a tidbit for you. Not long ago I went back into Dscm @ 28-29. I think I posted that here.
Why? All the retailers were gone. There were no longer any shares for sale. The institutions and the insiders owned the float. No insiders have registered to sell. Then on top of that there are 1.5mil shares short. I call that a baby short squeeze. This helps too.
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NEW YORK, Dec 7 (Reuters) - Salomon Smith Barney said on Tuesday analyst Holly Becker started coverage of online pharmacy drugstore.com Inc. with a buy rating.
"drugstore.com is our top pick in the online retail area, as we believe it offers the most near-term upside price potential," the analyst said in a research note.
set a price target of $80 a share, up 75 percent from current levels.
said the share price could be very volatile and assigned the stock a speculative risk rating.
In early trading, the stock was up 2-9/16 to 50-13/16. For three weeks the stock has been climbing steadily higher from an all-time low of 27-2/16.
The Bellevue, Wash.-based company is backed by online retail giant Amazon.com Inc. <AMZN.O>, billionaire Paul Allen's Vulcan Ventures and Internet incubator Kleiner Perkins Caulfield & Byers.
The company went public in July at $18 a share and spiked as high as $70 a share on its first day of trading, closing at $50.25. The stock fell sharply, 54 percent, in August from its highest price but managed to rally back just shy of its peaks late in the month before turning into a steady downtrend for two months.
Morgan Stanley, Donaldson Lufkin & Jenrette and Thomas Weisel Partners LLC were the lead underwriters of the company's initial public offering.
Oh!! This helps too.
<<Online sales of drugs, vitamins and personal-care products will soar to about $6.3 billion in five years from $213 million last year, according to Forrester Research Inc., which tracks e- commerce. >>
12:40 12-07-99 |
