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Microcap & Penny Stocks : Bid.com International (BIDS)
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To: GoNorth who wrote (22920)4/20/1999 11:10:00 AM
From: Rif Kamil, M.D  Read Replies (1) of 37507
 
I have been watching Bid.com with considerable envy and disbelief over the past two months. Internet Mania notwithstanding, I couldn't understand why this company was valued where it was at. My friend bought in at 6.00 and I watched his share valuations climb to 30! Was I an idiot to stay out?

The Nasdaq debut comes on a terrible day. But in truth, the valuations must reflect what this company makes. Have you been to their web site? Its cool, functional and interesting. But they offer no real bargains and why buy a used product off the web when you can go down to your nearest mom-and-pop retailer and pick it up for cheaper? Also, this is the one of the first of many such sites. There is no proprietary way of doing business or product here.Additonally, Nasdaq has not been kind to Canadian companies. Witness a stellar company like ATI Tech having a rough go despite having an impressive growth rate (projected for 55-60% for next year, with 35% of the market share in graphics boards). A company with Bid.com's recent stalled growth rate can only be massacred in the American markets (where they do not buy non-American companies anyway).

Bid.com has very small earnings. This company will eventually settle into its "true value" based on market demand. In two years there will be dozens of such companies...This is not a "long" company IMHO

I say to my friend, take your money and run. Me? Its just been a good ride (tinged with envy) from the sidelines.
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