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Technology Stocks : K-Tel (KTEL) Have the cheesy '70s records come to an end? -- Ignore unavailable to you. Want to Upgrade?

To: Van Nguyen who wrote (1389)	5/1/1998 5:15:00 PM
From: Van Nguyen	Read Replies (1) \| Respond to of 3203

If Briefing had known that Mr. Rigley do personally discuss with others on SI. Have a look at the excerpt from Briefing, and guess whether the SEC will needs Rigley's testimony. Anyway, thank you very much for manipulating this dear KTEL. Short then long then short KTEL and make money. 12:15 ET ****** K-TEL (KTEL) 46 3/16 +8 21/32. A large number of people, including some of the momentum players who are currently long the stock, wonder how shares of music distributor, K-tel (KTEL), can continue to trade at such meteoric heights. While a fundamentals argument can, indeed, be made for this company, the fundamentals are certainly not what have kept this stock afloat for so long, while most of the other recent high-flying Internet names have come crashing down. The secret behind K-tel's resiliency is what we like to call "Press Release Management." Did anyone notice that when small-cap Internet stocks began to fly, the wires became flooded with press releases by no-name Internet companies. To a smaller degree, that is an example of "PRM." While many of these companies really didn't have anything worthwhile to report, they figured, "why not toss out a press release and see if it helps our stock become the next Market Guide (MARG), 7th Level (SEVL), or K-tel." After it worked the first time, several of these companies issued two or three additional press releases over the course of a couple of weeks. However, none of them have anything on K-tel. Since May 9, the company has issued five press releases, all relating to its new online venture, K-tel Express. (Excuse us, one of the press releases was actually to announce a 2-for-1 stock split). In three weeks, the company issued as many press releases as it had over the prior four months. But the blows don't stop there. If the K-tel press release fails to drive short sellers into submission, Stock Investor Trading News comes in to do a little clean up work. Today, the organization (which is long K-tel stock) issued its second bullish press release on the company. After starting coverage of the stock on April 17 with a "strong buy" rating and $100 price target, Stock Investor reiterated that recommendation this morning, less than three weeks after the initial rating was issued. Making this story even more bizarre, are the actions of Keywest Securities. On April 16, the firm issued a statement saying it believed K-tel shares to be severely overbought and that the stock should settle to a more appropriate range between $5 and $7. The very next day, however, Keywest reversed its rating on the stock, saying that it believed KTEL shares could actually trade in the $30 to $50 range and still remain a good value for long-term holders. Have you ever seen anything like it?