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Technology Stocks : Excite [XCIT], an exciting stock to own in 1999!
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To: chirodoc who wrote (858)1/22/1998 3:33:00 PM
From: Andrew Hunter  Read Replies (3) of 3183
 
Well, XCIT is probably going to beat expectations by a signifigant margin. Normally I think you'd see a spike in the morning following the announcement. This would be follwed by a sell off as those who got in in the 20's took profits. I figured it'd hit 40 in the AM and I'd probably get 35 sometime next week if I went short into that. The squawk box thing might bouy the stock more. Unfortunately for the longs, the short interest is much smaller on XCIT than YHOO, lessening the possibility of an extended short squeeze like we've been seeing there. 800,000 shares short on XCIT, 4,000,000 on YHOO, similar size floats (about 6,000,000). Those that are waiting for XCIT to become valued at a multiple closer to YHOO - you have to realize that YHOO's valuation is dependent on the constant short squeeze that fuels the stock, not anything rational. If you can't get that same effect in XCIT, you wont see it reach those hieghts.
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