Hey Vits,
Yeah, I know about this. CNBC has been yakking about it all day long. Look at Doubleclick (DCLK), that just IPO'd. It's trading over 30. Originally, Goldman Sachs was going to bring it in at 12, then raised to to 14, then 19--it finally came on at 21, traded up to 31 and settled at 29. The whole next week it's been between 30 and 34.
My company, NETZ, has 39 mil in revenues; DCLK has 30 mil; NETZ you can buy for under a buck now; DCLK costs you 30 or more. They have the same customers. The only difference is NETZ bought an OTC shell, and just yesterday announced a merger agrement with ESVS of Nasdaq. The only catch is "official" financials for NETZ are not out yet. Should come out in a week or two, with Price-Waterhouse doing them.
Think of what happens if the money is even remotely close to DCLK: NETZ has to gain parity somewhere. It's only logical.
Yes, all internet stocks are overvalued becuase people think that's where the future is. Conversely, every single oil driller has a great P/E, but is trading 30-40 percent under value. Even though my portfolio looks like shit now, I do, in fact, have my money in horrendously undervalued stocks. When they catch up, I'll be golden.
I hope,
Take care.
Michael |
