Why Don't you tell the whole story, Maroon.
===========================================================
stockhouse.com
Friday, April 23, 1999
Trading frenzy surrounds Bid.Com
By LINDA LEATHERDALE, BUSINESS EDITOR
Bid.Com was one hot stock yesterday.
Eyebrows were raised on Bay St. when it was discovered that among those buying up hundreds of thousands of shares yesterday was Yorkton
Securities, Bid.Com's underwriters, who a day earlier downgraded the stock from "speculative buy" to "underperform," suggesting they were
trading for far more than the $2 to $3 he figured they are worth.
By 10:15 a.m., after the 9:30 a.m. opening bell, Yorkton bought a block of 108,700 shares at $9.03 apiece, cashing in on cheaper prices.
The high-flying Internet stock, whose shares were once worth less than $1, then shot up to as high as $32.35, fell $5.10 to $13.90 Wednesday,
after Yorkton analyst, Mark Pavan, released his downgrading report.
More than seven million Bid.Com shares traded hands yesterday, with shares trading as high as $14.60, then falling back to close the day at
$12.45, down $1.45.
Bid.Com International Inc., a Canadian online auction company, is one of those explosive Internet stocks, that has whipped investors into a frenzy
not unlike the Great Gold Rush.
Yesterday, it announced it will hold the Internet's first live streaming video and audio auction next Tuesday.Broadcast by RealNetworks' Real
Broadcast Network in RealAudio and RealVideo, the one-hour event will start at 10 p.m. EST on the Web site www.bid.com.
Bid.Com's patented Dutch auction format reduces prices from a set starting price until goods are sold out.
Viewers will have the opportunity to bid on a hockey jersey autographed by Wayne Gretzky, baseballs signed by Roger Clemens, Tag Hauer
watches, Hewlett-Packard computer monitors and other items.
Host of the live auction will be comedian Lewis Black, who is regularly seen on ComedyNet, the Internet's 24-hour comedy channel |
