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Technology Stocks : HMSK - Homeseeker.com
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To: Catawbakid who wrote (337)6/1/2000 11:01:00 AM
From: Catawbakid  Read Replies (3) of 372
 
No posts since January on HMSK. My random thought are that at $25 HMSK was clearly enjoying the market's irrational exuberance. At $2 HMSK is suffering from the market's irrational depression. Somewhere in between is fair market value. At least 80% of the decline is attributable to the overall market weakness over which HMSK has no control. The dot coms have been the worst performing stocks of the NASDAQ because they were the most overvalued.
This is not to totally excuse management. Management has done a poor job in investor relations and promoting the company to Wall Street. On the other hand, management seems to have a solid business plan which has been working. The burn rate is a concern as expected. So becoming profitable as soon as possible is crucial. The representations by management as to when HMSK will show a profit have to be met.
The niche market HMSK is attempting to create has potential and its technology for the time being is solid.
Managemnet has a significantly greater interest in the success of HMSK than any investor. If management can't pull off the growth in earnings needed to become profitable, then I would hope HMSK would be sold as consolidation in this area is inevitable.
The dot coms will be the last of the NASDAQ market to recover. But IMO one could begin to accumulate HMSK below $2.50 over the next 3 to 4 months. If, and its a big if, HMSK does become profitable and this segment of the market turns up, then a $12 objective a year from now is possible which is a significant percentage return.
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