You may now resume your exuberance. We are boxed. FYI BWA HAHA:"Visual Data CEO: Street Has Discovered Co.'s Internet Ties
4/14/99 12:55
NEW YORK (Dow Jones)--Visual Data Corp.'s (VDAT) stock rose
27% Tuesday because investors are starting to understand the company's
connection to the Internet, according to Chief Executive Randy
Selman.
"Our whole drive was to provide content for this type of media,
and I think the world found out about us and I think that's the
reaction," Selman said in an interview with CNBC Wednesday.
While Selman declined to comment on whether or not Visual Data,
which provides audio and video content, as well as full-motion
visual information for the Internet, is in acquisition talks with
another party, he did note that "there are a lot of possibilities
and the company is pursuing several courses."
The executive said the company's growth will be propelled by
the "tremendous possibilities" in its marketplaces, which includes
hotels and nursing homes.
He explained that, like advertisements, Visual Data creates
the actual video production, digitizes it and then distributes
the content over the Web.
"Its not like you have to come to one location. You can find
our content on virtually hundreds of sites on the Web. That's
why it's so popular," he said.
Although Visual Data shares gained 8 1/2 to close at 40 Tuesday,
the shares midday Wednesday were off 6, or 15%, at 34 on heavy
volume. Earlier Wednesday, the shares set a 52-week high of 46
1/2. |
