SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : Bid.com International (BIDS)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: SwampDogg who wrote (23550)4/21/1999 12:29:00 PM
From: wpckr  Read Replies (2) of 37507
 
BidCom Falls for Fourth Day on Concern Recent Gains Overdone

Toronto, April 21 (Bloomberg) -- Bid.Com International Inc. shares fell for the fourth day on concern the surge in the stock price prior to its listing on Nasdaq yesterday was not justified by the outlook for profits.

Shares of the Toronto-based online auctioneer fell C$4 (US$2.69), or 21 percent, to C$15. Yesterday the stock fell C$5.25 to C$19. The shares have plunged 51 percent since closing at an all-time high of C$30.70 April 8. Bid.Com shares fell 2 1/2 to 10 5/16 in the U.S. where they began trading yesterday.

''The Nasdaq listing was overblown,'' said Jeffrey Chisholm, a vice president at Goepel McDermid Securities Inc., which oversees C$2.7 billion in assets. ''Bid.Com is coming down to reality. The earnings momentum isn't there.''

Chisholm said he bought Bid.Com stock when it was in the ''low-teens'' and sold his holding in the ''mid-twenties.''

Bid.Com rose almost five-fold to its record high from the time the company announced Feb. 16 that it was seeking a listing on Nasdaq.

Bid.Com Chief Executive and co-founder Paul Godin said earlier this week that, even with the Nasdaq listing and a majority of its business in the U.S., the company will continue to be based in Toronto because it's less expensive at the current Canadian-U.S. dollar exchange rate.

Two of Bid.Com's three main competitors rose: eBay Inc. rose 3 7/8 to 166 3/8 and uBid Inc. rose 3 1/8 to 47 1/4, while Onsale Inc. fell 7/8 to 23 1/8 in the U.S.

Apr/21/1999 11:50
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News