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

To: Sarkie who wrote (26522)	8/27/2001 5:02:03 PM
From: Puck	Read Replies (1) \| Respond to of 28311

Hello Sarkie, formerly Sarkie Bug. Infospace's assets, which include its cash hoard, exceeds its liabilities, which includes having no long term debt. Hypothetically Infospace has a value. Those who participate in Infospace's market regularly and are responsible for assigning that value are human with human fallibilities, which is to say because humans are involved in the valuation anything can happen. Crowd behavior is inherently unpredictable, as is evidenced by Infospace's all-time high price of around $150. The only aspects of Infospace's business I care a whit about are these days are its wireless subscriber and Authorize.Net businesses. It's wireless subscriber business is gaining customers by the day and Authorize.Net has been doing robustly, as evidenced by Infospace's recent quarterly results. Are these businesses of value. I think so, but the market differs with me. I have no idea what may become of the share price in the near term, but I'd wager that it won't hit zero. In fact I have never seen a share price of even a bankrupt holding company with no assets ever quoted as zero. If a company's shares were at zero, then hypothetically I could purchase the whole company for nothing but my discount broker's trading commission, and, hypthetically, it may even be possible for me to purchase an infinite number of shares. I reiterate my belief that Infospace's share price won't reach zero but it could come close if there were people willing to sell Infospace shares at such a low level. .00001 cents is possible if someone is willing to sell at that price. (I'd buy as many shares of Infospace as I could tommorrow at that price if it were available and the company's viability hadn't changed drastically.)

To: Sarkie who wrote (26522)	8/27/2001 6:12:08 PM
From: Roger Sherman	Read Replies (1) \| Respond to of 28311

Nice volume for INSP today, huh? <ggg> 4,171,200 shares traded, even though it was apparently the 4th. lightest trading day volume for NASDAQ this entire year. BTW, it's my understanding that the big class action lawsuit against INSP was filed in the U.S. District Court of Western Washington on Monday, August 20th (one week ago today), before Judge Thomas Zilly. I'm just wondering if he has allowed the case to go forward already. Today, maybe? If the judge does (or already did), wouldn't you just love to be a fly on the wall during all those potentially hundreds of depositions? And if lawsuit is allowed to go forward by the judge, won't it be fun to speculate just which "ex-employees," ex-executives (especially CFO's and COO's), and ex-board members, not to mention a few misc. analysts, etc... will be subpoenaed to testify by the plaintiffs? Many posters on this thread could probably come up with a fairly effective "short" list to subpoena themselves.<g> IMHO, they just might "discover" some pretty amazing stuff...that perhaps even you or levy don't know about yet. ;) Well, the saga continues... INSP hit yet another all-time low today. It appears that as of today's close of $1.23/share (big "bounce" up from the $1.18/share it hit today), Wall Street currently feels that THE ENTIRE COMPANY IS NOT ONLY COMPLETELY USELESS, in the eyes of investors at the moment...but is NOW ACTUALLY WORTH LESS then the cash (and "investments") the company apparently claimed to have had stockpiled on hand, at the end of the last quarter. Let's do the math again today. INSP apparently claimed they had $446 million in cash (and "investments") at the end of the last quarter. There are apparently 325,259,000 shares outstanding...multiplied times $1.23/share (today's new closing price "low")...which equals only $400,068,570 total market cap value, at today's close. Subtract those two, and you find that the current stock value for the entire company is WORTH $45,931,430 LESS than the company has claimed it had in cash (and "investments"). Just amazing, huh? You'd think Wall Street would at least place some small value on all that stored furniture (leftover from the layoffs), as well those hundreds of "used" computers...even if investors might currently feel that the entire company has absolutely no value whatsoever, going forward. But then again... perhaps tomorrow we'll see a huge rally. :)