Well, I said it a few days ago, and I'll say it again.
The Northern EBAY!!
Someone asked if this was a fair assessment. There are definitely some similarities, and some differences too. Both are in the market of Internet based auctions, therefore the comment "the world is their oyster" is VERY true. As this catches on, the potential is, and will be, nothing short of staggering.
EBAY less than one month ago was trading below $30.00 Today it touched over $130.00!!!! As everyone knows, the "internet stocks" have been on fire in the States. KTel online just went berserk the past couple of days. Amazon, Yahoo.....and a bunch more. Well here's a Canadian "internet stock" that the market has only STARTED to notice.
Usually I complain about the world markets not taking notice of good Canadian companies. We often lament that if "xyz" were on Nasdaq or the NYSE, it would have a lot more exposure and trade a lot higher. In this case though, I think it will work strongly to our advantage, letting us get in on a great Internet stock at relative bargain prices BEFORE the market really wakes up. The broader markets are so hungry for these stocks that no doubt they will take notice. They'll come and "discover" it, and shoot it too the moon like all the other internet stocks, and I'm more than happy to go for the ride!
Cannacord knows. They alone was up a net of over 200,000 shares on the day!
Where is the potential price for this stock? Who knows. If the U.S internet stocks are any indication (as I strongly think they are) then watch out. The price appreciation that can ensue is far beyond what ANYONE would have imagined...and there's proof of the potential in as many internet stocks that have absolutely EXPLODED in the past few months....and it looks like its about to happen to BII.
Is this just the beginning?? IMHO, this is just the VERY beginning! :)))
Kevin |
