More news on NAVR - this stock will be hot for some time with all the attention it's receiving! Got in today for 4000 at 8.875. this is going to be aas much fun as MALL has been. Happy holidays to all NAVR buyers! This came from CNN.FN!
Navarre hits high note
Stock surges as prerecorded music
distributor prepares public offering
November 27, 1998: 12:22 p.m. ET
CNNfn market
movers - July 9,
1998
Internet proves
inconstant - July 9,
1998
Navarre Corp.
NetRadio
NEW YORK (CNNfn) - Navarre Corp. was
singing a happy tune Friday as the distributor of
prerecorded music saw its stock shoot up 91
percent.
The news follows Navarre's, [NAVR]
announcement that it was planning to file an initial
public offering for NetRadio, its online music and
commerce unit.
"The way the market has been treating other
Internet stocks," said Dennis Nielsen, analyst with
R.J. Steichen, "this would be a great environment
to do that (launch the IPO.)"
Nielsen said Navarre's stock has jumped in the
past and "it was always related to speculation that
something was going on with NetRadio."
Based in New Hope, Minn., Navarre distributes
prerecorded music and personal-computer
software. The company, which owns 85 percent of
NetRadio, had planned to take NetRadio public in
July, but pulled back after a market slowdown.
Also in July, Navarre announced a deal to
supply Barnes & Noble's online book-selling
service with consumer software.
Company officials were not available for
comment Friday. Navarre was up 5-7/8 to 11-3/4
in late-morning trading. |
