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Technology Stocks : AboveNet Communications, Inc. (ABOV)
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To: Mr. Miller who wrote (216)3/31/1999 8:17:00 PM
From: Tom Hua  Read Replies (3) of 835
 
Mr. Miller, the valuation in this stock is totally ridiculous. It's basically an outsourcing service company, hosting web sites for small businesses. The company had 382 customers last Q, which generated revenue of $2.65 MM. This works out to be $6,950/customer per quarter (really small businesses!), or $27,800/(customer-yr). At today's closing price, the company is valued at $4,630,000/customer. I know of no business or company that has a customer value remotely approaching that of ABOV.

Regards,

Tom
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