follow up FAIM ipo
quiet period ends April 8
last posted FAIM was trading at 28
it moved up from 28 to mid 40's before succumbing to profit taking and the NAZ correction.
yesterdays volume was highly above normal accumulation .. very large size buy orders ... possible institutional accumlation before end of quiet period and new innitiated coverge / upgrades / targets and so forth
I am calling another bottom here at current 15
IMO
risk vs reward
risk at -1 of 14 low
reward at +15 short term resistance
good luck to all ... do your own dd
FAIM Lead Underwriter DEUTSCHE BANC ALEX BROWN INC
Business Summary
FairMarket, Inc. provides outsourced, networked online auction
services for companies that desire to develop or enhance their Internet
marketplaces. The Company's primary service offering consists of the
development, hosting and maintenance of private-label online auction
sites for business merchants, Internet portal sites and other companies
that have a presence on the Web. As of December 31, 1999, the
FairMarket Network, the Company's network of customer auction
sites, had grown to over 90 businesses and several top Internet portal
sites are members of the FairMarket Network.
Financial Summary
FairMarket, Inc. provides outsourced, networked online auction
services for companies that desire to develop or enhance their Internet
marketplaces. The Company develops, hosts and maintains
private-label online auction sites. For the fiscal year ended 12/31/99,
revenue totaled $2.1 million, up from $4 thousand. Net loss totaled
$16.5 million, up from $1.4 million. Results reflect an increased
number of hosted auction sites, offset by higher advertising and equity
costs. |
