O.K. .com, I'll post my latest internet IPO backdoors picks here:
C. McD's Top Five Internet IPO Backdoors to Play This Week:
#5 - SFE - VERT just raised its offering price for tomorrow, and with MMPT and Pacific Internet beaten down much to far, a rebound will pump some air into the sails of VERT and SFE. Besides, SFE has stakes in other potential IPOs, and it held it price well at $40 today. Look for $45-50 tomorrow if market rebounds (and I think it will).
#4 - IDTC - based on the beating IDTC took today after recent runup surrounding the pending spinoff of it's internet telephony unit, it is a sound buy. IDTC core business faltered this year, but the telephony phone card market will make the spinoff a hot IPO. IDTC will get to the 20s on hype, but when IPO is filed it could see 30s again.
#3 - WCAP - it was a backdoor to COOL last year (went to from $3 to ~$13!), now its back as a backdoor for Rowe.com IPO, and also has the backdoor action on a Worldgate IPO. It got to $10 on its own, now Worldgate can take it a few bucks higher.
#2 - UIHIA - no brainer, UPCOY will be the sixth largest IPO in history, and regardless of what others say about discounting of IPO backdoors, UIHIA is already WAY over discounted. UIHIA should get $2 for every dollar UPCOY trades at, and Europe is going to help this one soar. Getting in at $49 right now is like being able to go back in time to get a better price. The advantage of these market conditions, ride UIHIA to $80 (at least).
#1 - BANY - big surprise? Of course not. BANY owns 26% of ANYI, which issued a PR today AFTER the bell saying they have filed all papers to begin trading on an "accelerated" schedule. While ANYI will trade on the OTC:BB, and is therefore not "technically" an IPO, the opening price will be set by MMs and will likely be much higher than recent IPO opening prices because the market sets the opening price. Don't discount ANYI for being a BB, take a look at other BB stocks that also have e-commerce sites like MLRE ($3 to $27) and IBUY (bought by CPQ for $220 million, or ~$18/share). ANYI is a prime consolidation target, and has plan to get on Nasdaq by the end of the year.
Last Friday I posted the following summary of the ANYI SEC filings while BANY was still at $0.75, it closed up 60%:
Message 7674582
Monday, with no PR yet out, BANY gained another 20%. Today, still no PR out about ANYI's plans, or the status of the filings, and BANY rallied late in the day back the original opening price (while almost every other backdoor plumeted). Then, after the market closed today, the PR finally came, and answered all the questions:
Message 7742303
Now ANYI can begin trading as early as next week, and tomorrow will be the first trading day for BANY since the PR. Long time BANY followers value BANY as high as $4-5, but no lower than $2-3. Anything less than $1.50 will be a steal for BANY tomorrow (closed at $1.28-1.31).
ONE LAST RANKING - BEST MULTIPLE INTERNET IPO STOCKS:
#4 - SFE - discussed above
#3 - CMGI - more fairly valued after today's haircut
#2 - WCAP - just keeps reloading
#1 - FHT - will do 2-3 IPOs this year, but plans to acquire a whole bunch on internet strartups.
That's all for tonight, sorry if I messed any of these up, its hard to keep them all straight.
Today's weakness in the market creates great buying opportunities for some. If we rebound tomorrow, the first discount stocks I'm going to pick up are the internet backdoor IPO's, starting with UIHIA which has beaten down the most unfairly IMO. |
