Infoseek is irrelevant. The "keiretsu" manipulating criminals don't have any stake in Infoseek, which is why the stock has never gone anywhere while all the other search engine stocks have.
Just goes to show that without manipulation, internet stocks don't do that well. Like Netscape (the keiretsu left a year ago), etc.
My own belief is the only thing that will bring the net stocks down is a large inquiry by the SEC into their accounting tricks and market manipulation. (dont think brokerages illegally manipulate stocks? care to read about the millions and millions in fines these firms pay out all the time to the SEC for fraud?)
Amazon's P/E ratio is now hovering around NEGATIVE 7500:1 right now. I do not believe any nasdaq (non penny) stock has ever reached such a lofty level. If someone can recall another stock besides BRE-X that ever had such groundless hype, please let me know. :)
The major problem is that every single brokerage firm is in on the game- without the "game" of hustling the retail investors, they would be out of business. So it is no surprise that brokerages will continue to recommend boston chicken as a "strong buy" down from 40 to 1, only recommending "sell" the day after they declared bankruptcy. People must understand that brokerages CANNOT issue "sell" recommendations on stocks they underwrite- if they did they would never get another dime from the IPO market, they would be out of business. They control all the media outlets about the market, and whatever lies they say are the lies that the anchors repeat. A wonderful scam they have going. My only question is this: why did the SEC go after those 40 small-fry penny stock hypesters yesterday when tens of billions are being scammed on the big stocks by big firms? What is the difference?
Earnings for most companies in the third quarter was disastrously lower than predicted, but analysts were quick to come to the plate and lower estimates through the floor in advance (well in the case of amazon, only 24 hours in advance) so that even though companies are turning in terrible numbers, all the average CNBC watching/beanie baby hording retail investor sees is a constant stream of "They beat wall streets expectations, it was a real surprise."
It will be interesting to see what, if any, spin the analysts put on Infoseek.
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