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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: clutterer who wrote (10492)	11/12/1998 3:39:00 PM
From: nelli	Read Replies (1) \| Respond to of 119973

from briefing.com: THEGLOBE.COM (TGLO) Tracking an Internet IPO these days is like waiting on the launch of the shuttle Discovery. When the weather clears, the bird is quickly put into the air. Apparently, the storm clouds have drifted past the market for Internet IPOs. After being shelved three weeks ago because of "market volatility" (read: lack of interest), shares of online community, theglobe.com, are expected to price this evening and hit the market in the morning. The first time TGLO was scheduled to come public, Briefing.com suggested that lead-underwriter Bear Stearns put this deal back on the shelf (see Oct. 19 Story), not because of weak market conditions, but poor quality. Before delaying the deal, however, Bear Stearns held a 25% off sale, cutting the offering range from the $11-$13 range to $8-$10. When that didn't work, the firm pulled the deal from the underwriting calendar, until further notice. Well the signal came yesterday when EarthWeb (EWBX 68 +19 5/16) raced out the starting block, climbing as much as 321% on an intraday basis and finishing its first trading session 248% heavier. As of this morning, Bear Stearns was planning to stick to the revised $8-$10 offering range. By delaying the IPO, the firm has put theglobe.com, considered a dog just three weeks ago, in a position to fly on its first day of trading. Valuation: Should TGLO price on the high-end of the range, the shares will carry a market-cap of $98 million and a Price/Sales ratio of 56 . Although extremely lofty relative to other second and third tier Internet stocks (InfoSeek, MindSpring, ONSALE and CDnow all trade for less than 20 times trailing sales), TGLO shares appear darn right cheap compared to the titanic (pun intended) P/S of 247 being awarded EarthWeb right now.