I agree with Freakazoid....this stock can make you dizzy w/the spreads and price movement. We need to hear more from the company on current events...last press release was helpful in that regard. There is potential here but the price swings are wild...more consistent volume should help settle that down.
MM's are skittish on these stocks and bids are lean...most of my screens were red today on the inet/e-commerce stocks I follow. I don't sense a sea-change in sentiment but investors are being a bit more cautious...maybe selling more quickly on a profit or taking a smaller position as an initial investment. The Lycos/USA Networks deal has had an impact.
Add...just went to check news...and found this....not sure how to take it yet...need to know more:
Company Press Release
SOURCE: Shop TV, Inc.
Shop TV, Inc. To Acquire Tricom Pictures
POMPANO BEACH, Fla., Feb. 10 /PRNewswire/ -- Shop TV, Inc. (OTC Bulletin Board: SHTV - news) announced it has
reached an agreement to acquire Tricom Pictures and Productions, Inc. (Tricom) for a total of 100,000,000 shares of stock.
Completion of the deal is contingent upon receiving a fairness opinion reflecting a valuation for Tricom of not less than ten (10)
million dollars.
Tricom is a producer and distributor of national television programming and is principally owned by several of Shop TV's
management and officers. Tricom produces the American Living and Industry Insights television series and has produced over
100, 30-minute programs. Tricom owns and operates a full service production and post-production facility in Pompano Beach,
Florida. The acquisition will allow Shop TV to produce most or all of its programming in-house and will allow it to expand into
producing and distributing educational television programs. The combined sales for the companies in 1998 were approximately
8 million dollars.
Also announced is a proposed name change to site2shop.com and implementation of a reverse one for ten (1:10) common
share split effective approximately February 23, 1999 to shareholders of record on February 22, 1999.
''We are focusing our sales efforts on the growth of the Internet. The name change to site2shop.com and subsequent purchase
of the same domain name allows our audience to easily recognize our interest and presence on the Internet,'' says Eric J. Warm,
Chief Operating Officer of Shop TV.
The company also announced that Mark Weicher has been named Chief Financial Officer of the new company.
SOURCE: Shop TV, Inc.
More Quotes and News:
Shop TV Inc (OTC BB:SHTV - news)
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