Kaiser says hold Jordex for post-IPO move by Medsite
Jordex Resources Inc JDX
Shares issued 30,374,357 Jan 14 close $1.43
Fri 14 Jan 2000 In the News
John Kaiser, writing in the Jan. 3-7 Bottom-Fish Review dated Jan. 10, says
Jordex Resources is a hold at $1.41. Mr. Kaiser recommended Jordex in
December, 1998, at 50 cents; other buy tips were December, 1997, at 85
cents, and February, 1999, at 59 cents. He commented on the newly minted
technology company's affairs six times last year. In the current report,
Mr. Kaiser says Jordex received good mileage out of its investment in
Medsite.com, a business-to-business site for physicians that has apparently
raised $75-million to $80-million (U.S.). Jordex has invested $1-million
(U.S.) in convertible preferred Medsite stock plus an undisclosed
additional amount more recently. What percentage of Medsite this represents
is unknown, but Jordex has bought into other companies, making it something
of a seed-stock holding company. He cautions, however, that "the more
diversified Jordex's portfolio becomes, the more indifferent the market
will become until eventually Jordex will trade at a deep discount to its
breakup value." He advises watching for an initial public offering by
Medsite to trigger a stock move.
|
