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Microcap & Penny Stocks : Bid.com International (BIDS)
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To: Brian L who wrote (24152)4/22/1999 10:52:00 AM
From: Mr Metals  Read Replies (1) of 37507
 
Bid.Com International Inc -
Post says Bid.Com valued at $2 to $3 by Yorkton
Bid.Com International Inc BII
Shares issued 38,963,434 1999-04-21 close $13.9
Thursday Apr 22 1999

The Financial Post reports in a joint Dow Jones dispatch in its Thursday edition that after selling the relative merits of Internet auctioneer Bid.Com International to Canadian investors dying for a Toronto-based Internet play, its underwriter has decided to peg a value on what the company is really worth. Reporter Ian Karleff notes that analyst Mark Pavan of Yorkton Securities, the only underwriter to have touched the company's stock, says it is trading at an "excessive premium" to its peers and it has an "implied valuation of $2 to $3 a share." This differs somewhat from Mr. Pavan's comments on Nov. 21, 1998, when asked what the stock was worth. He then said he did not want to get in the way of a freight train. Now it seems the same brokerage that profited from Bid.Com's three separate underwritings is content to speed the crash of that same train. Since Bid.Com first disclosed on Feb. 16 its application for a Nasdaq listing, its stock soared from $6.25 to an April 8 high of $32.35.

(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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