NEWS OUT
Post says Yorkton analyst beating the drum
Bid.Com International Inc BII
Shares issued 21,023,000 Nov 20 close $2.31
Mon 23 Nov 98 In the News
The Financial Post reports in a Hot Stock corporate profile in its Saturday
edition that Bid.Com International runs an Internet-based auction service,
but lately the most frenzied bidding has been in the stock market, where
high volume trading has sent its stock soaring. Reporter Ian Karleff says
the company's shares have defied all valuation models, based on current
fundamentals, climbing to a high of $3.50 on Thursday, up 483 per cent from
their 52-week low of 60 cents in mid-October. The stock fell seven cents to
close at $2.31 on Friday. About 28.8 million shares traded this past week,
compared to Bid.Com's total outstanding shares of 32 million. Mark Pavan,
technology analyst at Yorkton Securities, the brokerage behind Bid.Com's
three equity financings, rates the stock a "buy," without the confines of a
target price. He equates the Internet mania with the goldrush days, with
everyone trying to stake their claim, in an industry in which nobody has
yet to emerge as a leader. |
