Just to clarify, here's a link to the article on the name change:
biz.yahoo.com
<<Its Web store, www.bluefly.com, was launched last month and the company will change its Nasdaq trading symbols, PVTR and PVTRW, and its Boston Stock Exchange symbols, PVR and PVRW, to BFLY, BFLYW, BFL and BFLW, respectively.>>
It's worth noting that Bluefly is up in reaction to an interview with the CEO on Squawk Box this morning. While being grilled by Mark Haines the CEO acknowledged that:
- Their previous business was a failure.
- Sales volumes are still relatively low.
- Only a small percentage of visitors to their site order anything.
- They are in the process of trying out a bunch of stuff in an attempt to see what works.
It seems enough people were impressed by all this to bid the shares up over 60%. During the South Sea Bubble one of the more infamous stock offerings was for "A company for carrying on an undertaking of great advantage, but nobody to know what it is." While we haven't quite reached that level of absurdity yet, I think we're getting close. But I guess that discussion belongs on the "Highfliers" thread.
FWIW,
Mark |
