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Technology Stocks : WavePhore (WAVO)- VBI fed WaveTop for WebTV
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To: Winston Kim who wrote (1829)8/27/1998 1:11:00 PM
From: AJ Berger  Read Replies (1) of 2843
 
I'd hate to kick a dog while it's down.

let's just say it's suffering more on
a down day then usual. I would also
like to share some wisdom I've learned
from trading other Internet related
stocks. Very often stocks like these
are difficult to value correctly as
they are all growing into brand new,
and quickly evolving markets, while
making no real income. They can only
justify their stock growth with their
own growth, being measured by member
or advertiser growth, or both. The
point being that no one really knows
how to value these stocks. So when
any brokerage house claims a target
stock price on a stock, the Street
tends to take that guidence much
more literally than in any other
sector in the absence of any other
sound method of valuation. I do
believe we are suffering much more
from the recent downgrade and target
price of $4 per share, much more
than any other factor. Even though
we here know/suspect that it is a
"tainted" downgrade, it still stands
as the only evidence people can point
to in justifying their positions.
The other companies buy recommendation
is being overlooked in favour of this
recent change in opinion, which seems
more valid as the price continues to
erode. This is a classic falling
knife that no one should attempt to
catch until we see shorts covering.
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