...get your facts straight if you want to play...
Coach, can I call you Bobby?:o)....I can read:
msg follows(note the bold):
CustomTracks <CUST.O> soars, price target raised
NEW YORK, May 24 (Reuters) - Custom Tracks <CUST.O>, a developer of a new Internet payment system, rose sharply on Monday on heavy volume, making it the second largest net gainer in Nasdaq trade Monday morning.
By early afternoon, the stock was up 20 to 80-15/16 on about 3.4 million shares traded. The tech-laden Nasdaq index was down about 50, while the American Stock Exchange's Internet index was off nearly 4 percent.
Joseph Charles & Associates analyst David Weinstein on Monday set an "interim" 1-year share price target of $230 for CustomTracks, citing the company's soon-to-be-released Web security system. He said he is maintaining a short-term and long-term buy rating. The previous price target was a six-month target of $17, set Dec. 17, 1998. The analyst then suspended the price target until now.
The company had no comment on its share price. "We haven't issued any news," Spokeswoman Beverly Fuortes said. "It is our company's policy not to discuss changes in our stock price.
Weinstein told Reuters, "We based our price target on that if CustomTracks can capture even one percent of the Internet security market, they should trade at the same market capitalization as (Internet security company) VeriSign Inc. <VRSN.O>."
Asked about the timing of his commentary on the stock, he said, "(It's) because we are getting very close -- the system will preview in June."
"I would expect the system will be operating no later than the end of August, and I wanted people to have a basis to look at CustomTracks."
Weinstein said Joseph Charles & Associates has no stake in or relationship with CustomTracks.
CustomTracks Chief Executive David Cook, a founder of Blockbuster Inc., said in a statement in March that CustomTracks plans to provide a system in which customers will not be required to provide their personal information when making purchases on the Internet. Rather, a "digital signature" could be used to identify a buyer.
The Dallas-based company said it would debut its new system on an informational Web site, pending the application of certain patents related to further Internet-based security businesses.
12:59 05-24-99
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So what do you use for information to contradict that? Or are we playing a different game? |
