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Non-Tech : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: ChopChop99 who wrote (4807)	6/11/1999 11:58:00 PM
From: Danny Chan	Read Replies (1) \| Respond to of 16809

Chop. WH should be a winner compare to most recent IPO performance. Here is my take. WH is the 2nd largest online broker with highly rated service. I have been with them for 3 years and very pleased with their service. I have been hearing a lot of good words from my friends who also use WH. The IPO isn't cheap. If priced at 24, it would give them 8.7B market cap, same as ETrade today. Their trailing revenue is 795m compare to 345m for ETrade. If value at 50% ETrade, that's $28, 60% of ETrade, $33, 70% of ETrade, $39, 80% of ETrade, $44. I think it should trade around $30-35 in the long run, but may go over $40 in the near term. DLJ direct, the 3rd online broker is currently traded at the similar multiple as ETrade.