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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: F. Evans who wrote (1171)	11/20/1998 1:38:00 AM
From: waldo	Read Replies (1) \| Respond to of 37507

We made Reuters: Thursday November 19, 8:40 pm Eastern Time Bid.Com stock sizzles on fresh impetus TORONTO, Nov 19 (Reuters) - Investors continued to bid up shares in Canadian on-line auctioneer Bid.Com International Inc. (Toronto:BII.TO - news) on Thursday almost as rapidly as the Beanie Babies the company sells. The Toronto-based electronic retail company, which auctions everything from computers to collectible stuffed Beanie Baby toys on the Internet, bounced around C$2.90 on volume of more than 10 million shares. At one point the shares reached a high of C$3.50 and later a low of C$2.40. The stock, still active after a week-long rally of voluminous trading, opened at C$1.12 last Friday. Mark Pavan, analyst at Yorkton Securities, earlier this week applauded investor interest in the Toronto-based company. ''I think it's overdue that everybody starts to like them.'' Yorkton completed a bought deal with Bid.Com this week. It will buy 5.7 million special warrants at C$1.75 each and Bid.Com's proceeds will total C$10 million. But another analyst, who declined to be named, said on Thursday that recent impetus was driving the rally. ''I think it's going up because we've got the momentum, the day traders, and at the end the fools.'' Bid.Com is being compared to U.S. competitor San Jose, Ca.-based eBay Inc. (Nasdaq:EBAY - news) eBay enjoyed its own run-up this week, peaking at $155.13 on Thursday and carrying a bunch of Internet stocks upward in its wake. The analyst pointed out that Bid.Com still has a long path to tread before it lives up to its promise against a solidly entrenched eBay. Bid.Com President Jeff Lymburner dismissed the comparison, saying the companies have two different business systems. ''We really don't even play in the same sandbox,'' he said. Bid.Com auctions everything in cyberspace from computers and components, sports collectibles, tour packages, digital cameras, carved wood sculptures, diamond bracelets, and Beanie Babies such as Hissy the Snake or Stinky the Skunk. By comparison eBay is more like a multifaceted, classified advertiser, Lymburner said. The analyst also said that Bid.Com would have difficulty growing in the United States, partly because eBay has ''way too much momentum and is much, much larger.'' Lymburner disagreed. ''E-commerce is a pie that's growing dramatically,'' and no leader will be able to snatch up all the new consumers coming on-line. Lymburner, who works out of the Tampa, Florida, office, said investors have finally woken up to the company's underlying value. ''We think that we have been, for a long time now, largely a forgotten player in the e-commerce sector, when viewed in the context of a number of others who've had dramatic, dramatic increase in share price.'' He dismissed the possibility that the stock was coattailing off of eBay's recent success. ''If that were the case, we'd be a (C$)10 or (C$)20 stock right now,'' he said. Bid.Com shares have already reached its recent heights and more, soaring to C$5 on last year on October 6, but in much lighter turnover. Last time the price was jacked up this high, it was ''a concept'' story,'' Pavan said. Now, he said, it's a ''real business story." ($1 = $1.53 Canadian) biz.yahoo.com W