Mark: KTEL is INSANE !!!! But with the small float (less than 1 million shares), this one could conceivably go up another 30 or 40 points this week before crashing back to earth. I wrote on the KTEL thread that it was a great short at $23 or so...good thing I didn't actually try to short it !!
When a stock with 900,000 shares in the float is doing 14 MILLION shares DAILY volume, anything could happen...I suppose it could go up 100 points in one day if enough people got in on the action, but of course it will eventually crash back to earth. The CEO was on CNBC last week and asked how he felt about selling a substantial number of shares recently around $7...said in hindsight it wasn't a very smart move...OUCH !!!!
You must admit, their web site is very impressive... ktel.com <g>...check it out !! UNBELIEVABLE !!!!
Well, I guess their actual home page is k-tel.com
but bottom line is you can't even buy a CD from them over the net
if you wanted to yet...all this is hype and hope...but mostly hysteria.
Did you read this... fnews.yahoo.com
I especially like this part...
WHERE TO FROM HERE?
Key West Securities, a market maker, issued a bearish take on K-tel a few days into the rise. "When the hysteria dies down
and the volume dries up, the stock should settle to a more appropriate range between $5 and $7," the firm's chief analyst
Anthony Elgindy noted. "This could happen very quickly based on earnings and book value."
The next day, after apparently taking into consideration how ill-placed that last remark was in light of the market valuations of
the profitless CD-Now and N2K, Elgindy retraced his steps and retracted his words. K-Tel was now the "best value" among
its competitors, and, despite the sector being overbought, Key West issued a "buy" rating with a $30-$50 price target. I did
mention Key West was a market maker, right?
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From 1 day to the next (literally) the same analyst has changed his
price target on KTEL from $5 to $50 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
THAT IS SIMPLY UNBELIEVABLE TO ME !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Mark. |
