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Technology Stocks : @HOME IPO
ATHM 24.86-0.4%3:59 PM EST
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To: Paul Weiss who wrote (181)6/21/1997 2:39:00 PM
From: Jon Tara   of 383
 
Paul, it looks pretty dismal in that it is being very richly valued.

On the other hand, the IPO is coming out somewhat lower than what the current partners paid. So, the cable companies and other who are the current investors felt it was worth that rich valuation.

I think what we have here is "another Netscape". Will it do the same thing? I dunno. But you might look to Rambus for a clue. Rambus is now at 3X the IPO price. (Not 3X what us poor little schmucks could have bought it for, but still a very nice profit, almost 2X now.) Rambus is richly-valued too.

Of course, all good things must come to an end, and I suspect the stock could have the same eventual crash that Netscape experienced after the initial irrational exhuberence is over.
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