MR Metals is scary. He only prints half of the story. Here is the rest. But please give us a break Mr Metals and get a life. Your little notes back and forth to try and prop up your "short" sighted approach to the "New Paradigm" is getting old.
K-Tel goes platinum
Legendary music vendor beating ear
drums on Wall Street
April 21, 1998: 7:01 p.m. ET
Techs shine, blue
chips lag - April
20, 1998
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April 4, 1998
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bind online - Jan.
28, 1998
K-Tel
International
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NEW YORK (CNNfn) - The hits just keep on coming
at K-Tel International Inc. since the '70s icon of music
retailing said early last week it would sell CD's and
tapes on the Web.
Shares of K-Tel (KTEL) have soared more than
530 percent since that announcement, and at
Tuesday's close they were up again by 2-1/4 to
43-7/8.
The Minneapolis-based company, perhaps best
known for peddling those catchy "best of" compilation
albums, cassettes and -- ahem -- 8-track tapes, is now
drawing the attention of Wall Street.
K-Tel couldn't have picked a better time to get on
track with the '90s by going webby. The stocks of
web search engine companies -- such as Yahoo,
Lycos, Excite and Infoseek -- have soared this year,
and investors are hungry for more.
"Given what these stocks have done, the people
who are left behind start looking for other
opportunities," said Henry Blodget, who doesn't follow
K-Tel stock but is an Internet commerce analyst at
CIBC Oppenheimer.
"If you are money manager and don't have Internet
shares in your portfolio, you're going to want some
exposure to this," said Blodget, "because the growth is
real and the potential is enormous."
In a move that will boost the supply of K-Tel
shares a bit, K-Tel late Tuesday said its board of
directors approved a two-for-one stock split, payable
on or about May 8 in the form of a stock dividend to
shareholders of record May 1.
Monday, more than three times the number of
outstanding K-Tel shares changed hands. The split will
increase shares outstanding to about 7.8 million.
But the bubble in Internet stocks could burst. |
