[Temporary Euphoria with @Home]
Brice...
Thought the market treated @Home IPO nicely. Well the bright side is the market does like "high speed" access. IMHO..I think @home doesn't stand a long term chance...they can't bundle all the services of the RBOC's / GTE....really a strange reaction in my book. But then again..when has anything gone as planned lately?
<<At Home pushed as high as $25.50 in early trading, but retreated to close at $17, up $6.50, on volume of more
than 12.6 million shares on Nasdaq. The company's stock was sold to underwriters at $10.50 a share in its
initial public offering late on Thursday, raising $94.5 million in total proceeds.
By any measure, analysts said the stock price was heady for a start-up that lost $24.5 million last year on
sales of just $676,000 as it began rolling out its services to a few thousand subscribers in a handful of
communities.
But this is no garage operation, with backing from cable television giants such as Tele-Communications Inc.,
Comcast Corp., and Cox Communications Inc., in addition to high profile venture capital firm Kleiner Perkins
Caufield & Byers.
By using its own high-speed network, the Redwood City, Calif.-based company said it can provide continuous
Internet access via cable modem connections at speeds more than 300 times faster than typical telephone
dial-up connections. >> SNIP
Full text: biz.yahoo.com
BTW ..check out this weeks PC week ...story on bandwidth and ADSL...not bad.
Bob |
