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Technology Stocks : Zapata (ZAP) -- Ignore unavailable to you. Want to Upgrade?

To: SteveHC who wrote (506)	7/24/1998 10:26:00 PM
From: Smilodon	Respond to of 1206

Check the recent press release. I am pretty sure they are buying back. They are also doing some restructuring, so it is hard to tell which entity might buy back. Obviously, I won't encourage you to go long the stock. After they release the quarter, I will post a detailed analysis. But basically, it looks like you a paying a premium of $200 million over assets (ie Omega and Envirodyne) because they say internet. I am long Omega Protein so I have hedged out the earnings. You are betting that they can buy websites in the private market and sell them to the public market at a much greater valuation. Kind of like the greater fool theory. And don't forget, these are not the best websites, as the best are not for sale. If you do play it for a squeeze, be careful not to hold it too long. Good luck, Archer