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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Roger A. Babb who wrote (17676)3/15/1999 9:37:00 AM
From: Oeconomicus  Read Replies (1) of 18691
 
Roger, re EGGS, the 51% decline in revenues includes the retail stores in 1997 at $75 million for the December qtr. In 1998, store revenues were zero. Online revenues, OTOH, rose 77% from the year earlier period to $42 million. If you annualize that, the current market value is only 2.25 times sales (before the secondary), low for an e-tailer. They are also fairly sound financially with $59 million of cash and only $38 million of total liabilities, and that's before the new cash from the secondary.

Doesn't look like a no-brainer short to me.

JMO,
Bob
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