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Technology Stocks : General Magic
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To: Boplicity who wrote (7884)2/3/2000 6:41:00 AM
From: dgurgel  Read Replies (2) of 10081
 
The post was not meant to be scary but to suggest a milestone for which to watch.

When you see a new top VP or two profiled on the GMGC web site (where the top VPs are all listed), you will know the company is moving along. I like to have tangible proof (people on the staff, products in the market) of progress in addition to the forward-looking press releases. (We now have the products in the market.)

Go look at the present roster - genmagic.com

Scary was last summer when GMGC was threatened with delisting by NASDAQ.

Survival (for a year or two) now seems assured (but a buyout cannot be ruled out). So it becomes a matter of figuring out how much more or less than the present market cap of $345 million the company is worth.

IMO GMGC will hang around in the $7 - $12 range for the next six months as GMGC rebuilds its infrastructure (20% layoff in Aug - Oct).

I think a good parallel is Spyglass (SPYG). SPYG, an Illinois company, is the owner of the rights to the Mosaic (first large-selling commercial browser developed at the Univ. of Illinois Supercomputing Center by Andreesen and others). They got many of the people that did not go along with Andreesen to join Jim Clark's Netscape. Spyglass did the first version of Microsoft's browser. With great technology but no marketing skills, Spyglass became an Internet access specialty engineering group. Their stock chart looks much like GMGC's although they now are doing nicely (and the stock is recently up nicely). Note their market cap is $664 million and revenues run $20 million plus. GMGC also has technology and its market cap to revenue ratio could be similar as it matures. As you know revenues were nearly nothing for the last reported year.
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