A heads up for my FTEL buddies; the mms have been pushing the bid on ETEL; setting up for a squeeze. The float is just 1.5M
Here's todays Dow Jones story;
E-Net Surge On Magazine Articles
Continues, Stk Up 14%>ETEL
By Shawn Young
NEW YORK (Dow Jones)--Two articles in trade magazines sent the
stock of E-Net Inc. (ETEL) up 14.1% Thursday on top of a 23.1% gain
Wednesday.
The Germantown, Md., company sells technology that sends phone
conversations over private data networks and the public Internet.
In LAN Times' test of the company's products against those of competitor
Vocaltec Communications Ltd. (VOCLF), E-Net won. Communications
News also featured the company in a cover story.
"Vocaltec for the longest time has been held up as the industry leader,"
E-Net Chief Executive Rob Veschi told Dow Jones. E-Net's superior
review "was something that took people by a storm."
The two reports bumped the stock from a closing price of 6 1/2 Tuesday
to 9 1/8 earlier Thursday. Thursday's price was up 1 1/8, or 14.1%, over
Wednesday's close of 8. Nasdaq volume was 284,100, compared with a
daily average of 37,200.
Data networks, including the public Internet, are expected to carry an
increasing amount of voice traffic as the technology to send conversations
improves and becomes more easily available.
Analyst Vik Grover, who follows E-Net for Kaufman Bros. in New York,
said he thinks the stock will explode.
"This is a monster stock," he said."They're going to be one of the big dogs and they're under the radar of the
Street," Grover added. He said the shares could fairly reach into the high
teens or low 20s.
Veschi said E-Net has closed as much business and brought in as much
revenue in the past month as it did in the previous three quarters combined. "The technology is beating the
competition head-to-head. |
