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Technology Stocks : Aware, Inc. - Hot or cold IPO? -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (8232)	3/22/2000 6:05:00 PM
From: ayahuasca	Read Replies (1) \| Respond to of 9236

Hi Elroy- I appreciate your comments but let me address them. Aya, Aware cannot answer this question - they don't set their stock price, investors do. Since you seem to know the Aware story very well, Aware management has done their job and made their story available. If you have access to it, institutional investors definitely have access to it. The only folks that can answer your question (about why investors are buying GSPN and not AWRE) are investors. You should direct this email to the institutions that are buying GSPN, if you can find out who they are. Obviously, Aware has no direct control over their stock price. What they do control is the dissemination of information. Yes, there is information out there to learn about Aware, but how effectively is this being released. Institutional investors have the entire universe of stocks to select from and as such they must narrow their focus. I imagine it to very much be a game of salesmanship. If a company puts it's info in front of the analysts noses, if they actively court their attention then there will be results. If that isnt done then very little attention will be paid. After all these guys/gals are up to their ears in information so I doubt they spend a lot of time scouring the news wires and SEC documents to find interesting companies to invest in. They are introduced and courted by companies and in turn do research on them from which they can issue reports and recommendations. This of course creates the momentum to which the individual investors seem to flock. The stocks that go up in this market, keep going up and vice versa. Right or wrong that is the way it has been and will continue to be for the foreseeable future. So Aware being more aggressive in marketing themselves to analysts should translate into institutional accumulation (assuming they have a good story to tell) which in turn leads to analyst upgrades which leads to individual investor interest and a higher stock price. Management should never talk about their stock price I agree. My intention is to elicit real information from Aware regarding the differences between them and Verata and Globespan. I am hoping that by asking the question regarding valuation discrepancies I will get an answer regarding fundamental differences. Perhaps I wont but that is my goal. especially when they are trading at about 35x projected 2000 sales (even if related companies are trading at even higher valuations). I can not rationalize the valuation metrics of this market, so all I have to go on are relative comparisons. Relatively speaking Aware is undervalued.