Auric, weren't you short GNET a while back? How do you feel about them now? They are about to get a pop, I have a feeling, given the following "insider report." What do you think about waiting for the runup, and then shorting with everything you've got? The grammatical screwups in the release are always gravy on an already-tasty-looking short!
Your thoughts are very much appreciated.
~~~~~
Wired Weekly Pick for the week beginning Sunday, October 2, 1998
Go2Net Inc. (NASDAQ: GNET)
GNET Snapshot: Everybody have a good week trying to guess which way the market is going toturn? Considering how the market is we have selected a company in an industry that we have a bit of knowledge about...The Internet. GNET is the company that owns the web site that everyone of you have either visited in the past, are a paying member of now, or will be at sometime in the future. In case you need to be informed, the site is "The Silicon Investor". The "SI" site was
purchased by GNET earlier this year in a stock swap for approximately
$35,000,000.00 Although this acquisition may seem costly at first, in our opinion, the price paid to acquire the type of traffic that "SI" produces on a daily basis, was well worth the price on a long term revenue model for GNET. To fully appreciate that purchase, Gnet, with it's many otherwebsites have now passed the 1,000,000 unique visits per day mark, with the majority being generated by "SI". For
those that are not aware, the way money is made on the Internet is
through subscription fees and advertising revenue.
This company has just qualified to be listed on the NASDAQ National
Market System, which is an accomplishment today when most companies are being removed from the NMS. The stock is trading at lower levels than it has for the last several months, in anticipation of poor
financial performance, which should come as no suprize to anyone, given that this is a growth stage company, with further acquisitions on the horizon. Look for more significant developments from the recently announced alliance with Mindspring, another ISP you
may have heard of. With the market as volatile as it is these days, GNET could offer some upside potential in the near term
if everybody doesn't run for the hills prior to the numbers coming out
on this one. |
