e-Commerce Stocks - The Undiscovered GOLD Message Board

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Non-Tech : e-Commerce Stocks - The Undiscovered GOLD

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To: Lizzie Tudor who wrote (85)	8/7/2000 3:09:38 PM
From: michaele23	Read Replies (1) of 105

Lizzie or Herb Vic, FIRE is a stock I have been doing DD on and I am wondering what you or anyone may think about it being time to get back in? Earnings are coming up on the 23rd and from all reports they look to be very good. They have signed a lot of new business including Deutche Telecom this year, and revs were up 130% year over year last quarter, and that growth is expected to continue into this quarter. They signed two important partnerships this quarter which will help them offer more in terms of a complete CRM package and not just the sales and marketing component, which bodes well for future growth. Estimates are a loss of (.14) but several sources I have read expect them to beat that easily. On the downside, their stock is very beaten down, almost ridiculously low. From what I can tell that seems to be due to two main reasons, besides the market sell off which of course has a lot to do with any stock. One is the recent unlocking of shares, bringing their float to 35 mm shares from 5 mm. Considering they are on track to beat 50mm in sales this year 35mm is still a low number and that should be a short term issue. The second issue is the whopping 75mm in expenses for the first six months of this year, compared to 12mm last year same period. That is due mostly to "preferred dividends", which means an accounting charge converting preferred stock into common stock. I am not familiar with this, but my assumption is that it is a one time thing that amounts to paying off the original investors in the company with stock that is more valuable, and taking a charge against that on their books. If anyone knows more about this I would appreciate hearing about it. Anyway, I think their stock can't get beaten down much more than it already is and to me it appears that it may do a nice earnings run beginning some time this week. Any opinions? TIA Michaele

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