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Non-Tech : Barnes & Noble (BKS)

BKS 6.490

0.0%

Aug 19 5:00 PM EST

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To: Daskin who wrote (1444)	5/29/1999 4:57:00 PM
From: American Spirit	Read Replies (1) of 1691

Yes, the timing of the IPO couldn't have been worse. Nets had little if any support that day or the following day. BKS took a double whammy hit as the net market cracked and the post-IPO sell-off began (even though there hadn't been much of a run-up). Let's hope BKS ends up more like UIHIA which is now trading up $30 from its UPCOY IPO. If UIHIA is any indication the worst time to sell BKS would be now. Just hold it for a month or more and we might see 35-40 again. The Barrons article seemed positive for BKS as it listed the ways in which BNBN is about to trump Amazon. The only troubling aspect was the price-cutting which could trim profits. But Amazon is clearly in trouble and with cash-rich AOL-partner BNBN now on its tail it is going to have to hustle. Since Amazon has a much-much higher valuation than BKS perhaps investors will see BKS as the comer and the bargain in the group. BKS's partnership with BMG also looks enticing. Add music to books, then on and on. Keeping everything in perspective and still licking my wounds, I nevertheless remain bullish on BKS, especially at these levels, and I see no downside unless the market crashes, in which case everything becomes a bargain.

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