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Technology Stocks : NetObjects, Inc. (NETO)
NETO 0.00Nov 6 4:00 PM EST
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To: Mohan Marette who wrote (60)5/7/1999 8:10:00 PM
From: Jesus A. Castillo   of 278
 
My own bet is that except for a few people, this was a day for a bunch of people to make a small amount of money on NETO. Over 12 million shares traded (twice the offering) and the stock closes at $1 above the offering price. That doesn't say much for people thinking that this one is on it's way to $20. I'd say that there is a significant portion of holders who were merely opportunistic on this one making quick trades for a few cents here and there. At the end of the day, some people got left without a chair.

We'll probably see a few more fun days, and I'll be playing, but this is not one to sock away for retirement. As for significant partners, this offering merely served to get IBM paid and get some more time. Even the NETO prospectus says they expect (i.e. know) that they will be getting less revenues from IBM -who accounted for the vast majority of their revenues last year- wonder why?

I say have fun while it lasts. I'm sure we differ in our opinions about the viability of this company. Actually, I'm not worried; as long as there are some quick easy pickings who cares about the company -that's something for later when things settle down. It seems that I am not alone on this one.

Good trading (or investing if that's your preference).
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