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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: Jibacoa who wrote (7963)	2/27/2001 12:43:00 PM
From: Bucky Katt	Read Replies (1) of 13094

ETYS going b/k, company says stock is worthless.> But until Monday, eToys, a pioneer in online retailing, had held out some hope that it might be able to sell its business on the cheap and return something to its creditors. Instead, it said that after exploring all its options, it had not been able to find any interested buyers. Although it did not provide an estimate on the value of its assets, including some unsold inventory and an almost brand new warehouse, eToys said it expects its debts of $274 million are ``substantially'' higher. Perhaps the only people getting worse news than eToys' creditors were its shareholders. The company said its stock was ``worthless.'' Shares of eToys were halted before the announcement, but even then had been selling for just pennies a share. At their height in 1999, eToys shares were worth more than $80. ``Certainly the climate we faced remained extremely harsh, and in this climate a buyer did not emerge,'' said a grim Ken Ross, eToys' spokesman.

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