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Technology Stocks : 7th Level -- Ignore unavailable to you. Want to Upgrade?

To: AJ Berger who wrote (601)	4/21/1998 4:25:00 PM
From: Platter	Read Replies (1) \| Respond to of 1019

From Briefing.com "7TH LEVEL INC. (SEVL) 6 1/2 +4 11/16. At a time when anything remotely related to the Internet causes the stock price to surge, this developer of character animation technologies which can be used to quickly and easily create rich media content, announced today that it had entered into an agreement with WaveTop, a unit WavePhore (WAVO 15 5/16 -1/16), to distribute its character animation technology with WaveTop content to its users. As might have been expected, shares of of 7th Level are up more than 230%, with almost 11 million shares trading hands, significantly above its daily average volume of 134,681. Of course, with the spike in price today, 7th Level has easily surpassed its previous 52 week high of $4. While we're sure that this distribution arrangement is meant to enhance the prospects of both companies and, in the process, increase shareholder value, we're sure that 7th Level did not expect such a favorable reaction to its announcement. Or maybe it did. It is certainly not the first time that a company has taken advantage of (frothy) market conditions to position its stock to ride a positive wave. Of course, the agreement may turn out to be a hit for 7th Level, especially, since WaveTop's enabling software will be part of the Microsoft Windows 98 operating system. "