Doug H - **OT: Just to add to your Allen / Vulcan Ventures info. As is well known, he has taken a significant position in GNET, I believe about 37 % at $90 share price. GNET shareholders were given tender offers to increase his position, but of course, the stock price shot up well beyond that and he had no takers. (I am a GNET shareholder). Here's the announcement link from March on the SI site:
go2net.com
The feeling was: 'if Allen was willing to offer that much for shares released by management and convertible rights, how much would the other shares be worth ?' For a while, it looked like "double" but now it's about at a 20 % premium to Allen's "insider" share price.
For something really interesting, check out chart below for period 1/98 - 6/99 for AOL, CMGI, and GNET. After CMGI, GNET has been my best performer. Hard to believe any stocks could DOUBLE the 1000 % return of AOL during that period. Also, IMO, until the Allen spot light, GNET was the most underrated and least well known of specialty portals. I recall as of last fall, around October I believe, GNET had announced POSITIVE earnings and had coverage by a total of 3 analysts.
techstocks.com
Also, BTW, Allen I believe took a position recently in DATEK -- ? another piece of the full-service portal puzzle ? (and a fitting accompaniment to the stellar SI stock talk site -- astutely obtained for song by GNET around last summer, I believe).
Finally, with all the broadband hoopla, we could be sitting right here at SI at the bottom of Allen's cable (modem to be) empire drop shoot -- with the way being led by "lowly" GNET. Nice 'Rocky' scenario !
Good luck -
George |
