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Technology Stocks : Euroweb International - NASDAQ: EWEB
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To: allen menglin chen who wrote (492)1/31/2000 3:06:00 AM
From: chalu2  Read Replies (2) of 566
 
I don't think they are counting proxy votes. Rather, they are soliciting votes necessary for approval. I've run into this problem before on momentum stocks. They set a "record date" for voting, and send out proxies. They need a certain percentage vote to approve the transaction. But, this being a heavily traded momentum stock, the Proxy arrives in the mailboxes of a bunch of "record date" shareholders who have since sold their shares. Not caring a whit about their former holding, they don't vote. The company then has trouble getting the vote necessary, and has to start calling around to holders' homes and offices to urge them to vote. It's a long process. As I've noted, this happened twice last year with a stock I owned called International Flight Tech (now GTLL). They finally got enough votes on the third attempt (after two adjourned shareholders' meetings).

You can't equate the price paid by KPN with the market price this stock will be accorded if the KPN deal closes. The market has shown you already that it does not come to the same rational value conclusions you do. Such "rational" value thinking stopped me from buying AOL, YHOO and AMZN three years ago, a decision I rue!

You seem like a nice fellow, but you're trying to apply logic to an illogical, irrational, day trader driven market. I started doing much better in the market when I adopted the view that "the trend is my friend", and stopped trying to bring reason and analysis to bear on the valuations of Internet stocks. Just my experience FWIW.
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