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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (26513)	8/24/2001 8:36:56 PM
From: Roger Sherman	Read Replies (3) \| Respond to of 28311

INSP hits all time low today! NOT just a 52-week low...but the lowest price the stock has ever been in its entire history as a publicly traded company (closing at $1.46/share today). It's now been about 137 weeks (over 2 3/4 yrs.) since INSP's IPO on 12/15/98. Today's close is actually -53% BELOW it's IPO opening price of $3 1/8 per share (split adjusted). Not only that, but it actually hit $1.40/share today, before the huge rally...closing 6 pennies above that price. And only 46 pennies per share away from being in NASDAQ de-listing territory. Apparently INSP's IR now claims to have a total of $426 million in cash...AND "investments." If we assume the IR's figure to be true and accurate at its face value, and use the figure of 325,259,000 total shares outstanding...that means INSP's cash (and "investments") alone are currently worth about $1.37/share. And yet, the stock's price actually hit a price of just 3 pennies per share above that amount today. If we take the total market cap at today's close of just $474,878,140, and then subtract their claimed cash (and "investments") value of $446,000,000...we end up with a difference of ONLY about $29M in total value that Wall Street and investors are actually placing for the entire company, as of today's close. Just amazing... ONLY $29M in total value for their "merging" with GNET (once valued at $4 billion all by itself), plus ALL their other numerous acquisitions, plus ALL their partnerships, plus ALL their barter deals, plus ALL their 4 patents & 50 patents "pending," plus ALL of their technology, plus ALL their goodwill, plus...plus...plus...??? And this is a company that once had a market cap $25 BILLION, less than a year and a half ago. Yep, just amazing! Roger PS. I've been doing a little investigation into INSP's entire business model, which MANY people don't really understand at all...although they sometimes think they do. Found some very interesting stuff which I may eventually post. However, I will say this now: Even ignoring the crappy economy, the DotBomb tech stock crash, the major pull back from the Internet advertising/banner models, the company's leadership musical chairs, executives leaving in droves, attempted closing of their Pier 70 offices, the massive (percentage-wise) layoffs, the numerous "settled" lawsuits, the numerous current class-action lawsuits, issues of "trust" in the leadership, and the now forecasted delays in profitability for both broadband & wireless (not to mention some very major concerns some have, regarding the company's founder and CEO)...I am coming to the conclusion that there are some very major problems and obstacles for INSP's entire business model, going forward. Apparently I'm not alone...and many others seem to have also figured it out.