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Technology Stocks : WCAP-The next CMGI
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To: Andy Yamaguchi who wrote ()3/26/1999 7:14:00 AM
From: astyanax   of 8
 
WCAP skyrocketed 24.8% yesterday in extremely heavy trading
(260% of its normal volume). It closed at 19 3/16 after a
busy day on the stock message boards in wake of a somewhat positive
article by TheStreet.com comparing WCAP to CMGI.

( thestreet.com for subscribers)

WCAP hit a high of 25 1/2 earlier in the month. WCAP (Winfield Capital)
has large stakes in several Internet firms such as Cyberian
Outpost, Juno.com (which recently filed for IPO), WorldGate Communications
and Mpath Interactive.

Here's my dumb question of the day (until I plow through their financials to figure
it out). Why is WCAP's P/E ratio
so extraordinarily low relative to other VC's? Yesterday morning it was at less
than 3.5 (now it's over 4 after yesterday's jump).

For example, I've been researching every company that
people are suggesting may be the "next CMGI" and here's what I found
for P/E's:

CMGI 125.8
cmoz N/A
bgf 19.2
pwcc N/A

If WCAP is "the next CMGI" (personally, I don't think there will
be another CMGI for the forseeable future), then it's absurdly cheap. But there's
gotta be a reason why it's so low, any thoughts? Are investors betting that the
increase of their balance sheet equity in Cyberian Outpost will never be
repeated? Another question. I'm quite confident Juno.com's IPO will be
successful. Any thoughts of a possible short-term runup until then and maybe a
drop after the IPO hysteria subsides?
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