From CBS MARKETWATCH
MiningCo.com (mine: news, msgs) dropped 16 3/4, or 23 percent, to 55.
Jonathan Cohen, an Internet analyst at Wit Capital, started coverage on
the search company with a "buy" rating. Cohen does hedge that call,
though. In a note, Cohen said: "Only those investors whose objectives
include speculation and long-term growth should consider purchasing."
Cohen projected that MiningCo.com sales will grow by 400 percent this
year due to the company's GuideSite network, which consists of "unique
and appealing" content. In February, MiningCo.com was the sixth-largest
news-and-information Internet property, according to Media Metrix, with
over 4.7 million unique users. Wit Capital acted as e-manager for
MiningCo.com's March 24 IPO debut at $25 a share. |
