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Technology Stocks : Multiple Zones (MZON)
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To: Anthony@Pacific who wrote (177)12/24/1998 2:38:00 AM
From: Doug Fowler  Read Replies (2) of 475
 
Anthony:

You are comparing apples to oranges.

More than 90 percent of MZON's sales are from classic mail order (like PC Connection, MicroWarehouse, etc.)

As such, their price to sales ratios have typically been far less than 1. (Example: PC Connection has had about $700M in last 12 months sales, but has a market cap of about $230M, or a price/sales ratio of about 0.33.)

MZON is just now getting into online auctions, and thus their revenues from online auctions are very low.

Therefore, to try to compare them to eBay and OnSale, whose sales are all online/auction based, would be a big mistake. MZON is much MORE like PCCC and much LESS like EBAY or ONSL.

Of course, with the run-up in Mall (via UBID) and MZON, we should look to PC Connection and MicroWarehouse to make announcements about entering the auction fray.
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