Mr. Puff Daddy -- you predict ETYS is going to single digits, 9 I think you wrote. You've also made some other rather bearish comments on the company. I'm considering going long and I am curious as to what facts you base your conclusions on. Or do you just "know" this?
The Reuters article below states that ETYS was the No. 2 visited shopping site during the holiday season. I've read that it remains in the top 10 during the rest of the year. I realize there is much more to the equation but it doesn't look all that bad to me: especially in light of its revenue growth. I realize there is a large float and that concerns me but maybe the market has over-reacted...down some 50 points in a matter of weeks. Are you sure this stock is going to 9? I'm thinking maybe a bounce or reversal off 20...maybe even settling down in the low 30's.
Just another opinion. Best of luck to all.
-commerce sales tally seen between $10 bln-$13 bln
NEW YORK, Jan 3 (Reuters) - Ernst & Young scaled back its sales expectations for Internet retailing for mid-October through the end of December to between $10 billion and $13 billion, down from previous forecasts of $12 billion to $15 billion, the accounting and consulting firm said on Monday.
Ernst & Young found that 26 percent of Internet users made a purchase on line during the holidays, the company said.
For 1999, Ernst & Young is maintaining its full year online retail sales estimates of $25 billion to $30 billion after its survey of 1,283 Internet users.
The survey also found that, while the sites most-visited by Internet shoppers remain consistent with earlier findings, a slightly different set of winners is revealed when reviewing the average dollar amount spent at these sites.
For example, Amazon.com (NASDAQ: AMZN) was the No. #1 shopping destination for 42 percent of online shoppers this holiday season, followed by eToys (NASDAQ: ETYS) with 20 percent, Toys R Us Inc. (19 percent) (NYSE: TOY), Barnesandnoble.com Inc. (NASDAQ: BNBN) (17 percent) and Buy.com (16 percent). |
