Internet Direct Best Bargain On the Internet IDX on VSE Message Board

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Technology Stocks : Internet Direct Best Bargain On the Internet IDX on VSE

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To: LABMAN who wrote (12)	4/30/1999 12:42:00 PM
From: Glenn Petersen	of 102

IDX has probably moved up because of an article by Paul Stapleton, a senior VP of Rampart Associates, Inc., an investment bank focused on ISPs, that appears in the May issue of Boardwatch magazine. The issue was available on Monday at ISPCON and I picked up some shares at $2.10 on Tuesday and I added some more at $3.00 yesterday. The stock was at $1.43 when Paul actually wrote the article and he noted that the market was valuing IDX at 3.2x price-to-sales and $626.67 per subscriber. At $3.40, IDX is now being valued at 6.3x price-to-sales and $1,234.54 per subscriber. This is still significantly below the valuations accorded U.S. ISPs. If IDX is accorded a U.S. level valuation, Paul comes up with a valuation of $7.60 to $8.70 per share. I sat in on two seminars that Paul ran and was very impressed.

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