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Technology Stocks : HMSK - Homeseeker.com -- Ignore unavailable to you. Want to Upgrade?

To: gerald tseng who wrote (333)	10/14/1999 10:02:00 AM
From: Mark B. Martell, CCM	Read Replies (1) \| Respond to of 372

Cat, I could not agree with you more except for this: HOMS and HMSK's stock price should begin to true up a little in the near future...two things here: Either HOMS is overvalued or HMSK is undervalued or something in between. It seems to me that HMSK is undervalued. If we could get some analysts to review HMSK and put out recommendations here we could get a better sense of what the market is thinking regarding valuation. My guess is that these recommendations will be coming out in the near term (Costely hinted at this during the conference call) and we will have a better market assessment to go by. I believe that, given the lack of debt (unlike HOMS), the current revenue projections versus HOMS (21%, with 25-30% targeted in a short period), the cash burn rate being significantly less than HOMS, that HMSK should have a 20-30% valuation range in comparison to HOMS. Do not lose focus on the growth in listings as well. As was articulated during the conference call, while the absolute numbers of listings are still 800k, this is a seasonal factor and is not representative of the growth rate in total percent of listings available. If the analysts see the same things here, we could receive a pop in HMSK or a drop in HOMS...perfect hedge strategy would suggest to buy one and short the other. If HMSK can get 20-30% of HOMS's $4+Billion Market cap valuation, this would bring us up to about $1B Market Cap. That's a three bagger at these prices today.. Don't forget...analysts still have HOMS rated as a buy and accumulate..they must not believe that HOMS is overvalued.. After the road shows and recent price run up, despite the CC, the blowoff in price, in comparison to the overall market downtrend over the last two days, was slight. The stock must be sitting in strong hands with some accumulation.. Just my opinion. Mark