Anyone been watching AWEB, volume really picking closed today at 1.50 up 5/16. ISR just started following this company, Worth a look.
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Take A Look:
Summer Watch List Stock I.
Our first watch list company is AllNet Services (OTC: AWEB). It is a client
of Perry & Co., (surprise) which means the risk of it remaining an unknown
entity has essentially been eliminated. As it currently stands, AllNet
Services is totally unknown. It did however trade 257,000 shares today
which lead us to believe that the word had somehow leaked out, but then we
remembered that their logo is on our website--so someone obviously put two
and two together...duh.
Some of the greatest valuations are in Internet Online Auction stocks.
Allnet intends on becoming a big player in Online Auctions as well as in
traditional e-commerce. There are currently only two other publicly traded
Online Auction stocks out there, OnSale (Nasdaq: ONSL) and Shopping.com
(OTC: IBUY). Let's take a look at them.
Onsale.
hoovers.com
OnSale is the industry grandaddy and in fact the "inventor" of Online
auctions. Started in 1995, OnSale did about $140,000 during 1995, $14
million in 1996 and $89 million in 1997. The street expects them to lose
money until mid-1999. Internet surfers apparently love bidding in this
auctions, the first quarter sales just reported for OnSale were (oh my) $40
million. Wall Street apparently love Online Auctions too and have given
Onsale a $540 million market cap or six times trailing twelve months sales
of $89 million. You could have bought this for $5 last summer.
See the site at onsale.com
Shopping.com
hoovers.com
Even more fun is the highly controversial Shopping.com. There has been a
great battle going on between longs and the shorts here. From the get go,
when it began trading at $8.50, the media for whatever reason has been
taking wacks at this company. One reporter said (prior to the IPO) that it
made Amazon look dirt cheap at 600X sales and that the site didn't even
"work" when he visited it. One boldly proclaimed that underwriters would
choke on the overpriced deal. We'll hello it's trading at $24 and has
traded as high as $39. It reported first quarter sales of $891,000 a couple
of days ago.If Wall Street is in love with Onsale, it's "stalking"
Shopping.com with a $96 million market cap. That's 1000 times sales. Yikes!
When can we start one.
See the site at shopping.com
AllNet Services
allnetservices.com
AllNet has been conducting Online Auctions since October. While they have
nicely growing sales figures for Jan, Feb and March--they are unaudited and
the management would not let us release them. Probably the best way to
evaluate the potential commercial success of any Internet related company
is to visit their site and try out their product or service. The company,
which was formed in April 1997, spent seven months designing proprietary,
fully scalable systems architecture for the Internet shopping auction place
and attracts 50,000 visitors a day. Their site is called Going Once and can
be visited at goingonce.net In our view, it is every bit as
nice as the other Online auction sites out there, with the exception of
that they don't have "buy this computer for $0.99 cents" offers. But
then--has anyone ever been able to buy computer for $0.99. We think not.
In addition to Going Once, they are about launched a new site called All
Net Direct. This site offers more than 70,000 new computer (auctions are
usually close out merchandise) and electronics products. While the site
does have an active URL at allnetdirect.com we weren't able to
use it yet.
Also up on drawing board for them is the world's first web site dedicated
solely to offering the best selection and prices on hundreds of different
computer monitors. Great idea. They will sell everything from 15" Packard
Bells to 21" NEC monitors. May we invite you to call them and request an
investor packet ? Please do.
AllnetServices.com Inc.
3650 Coral Ridge drive
Suite 101
Coral Springs, FL 33065
(954) 346-7575
Ticker Symbol: AWEB
Trading Range: $0.53-$3.57
Shares Out: 6,700,000
Float: 2,700,000
Volume: 257,000
Price: $1.25
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