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

To: patt who wrote (5331)	1/11/1999 7:06:00 PM
From: Thomas Kirwin	Read Replies (2) \| Respond to of 37507

Bid.Com jumps, players eye consolidation Monday January 11, 6:43 pm Eastern Time TORONTO, Jan 11 (Reuters) - Cyberspace auction house Bid.Com International Inc. (Toronto:BII.TO - news) soared close to 40 percent on Monday in hot trading as some investors contemplated the eventual consolidation of the electronic commerce industry. Bid.Com traded C$2.10 or more than 38 percent higher to close at C$7.60 on 12.4 million shares, topping most actives. The Toronto-based firm auctions off a plethora of goods via the Internet, including computers and components, sports collectibles, digital cameras, diamond bracelets, and even the collectible Beanie Baby stuffed toys. Mark Pavan, analyst at Yorkton Securities which in November completed a bought deal of Bid.Com warrants, noted that the cyberspace retail market will inevitably contract. ''The reality is that this industry, like any rapidly growing fragmented industry, will consolidate as it already has started to. And the targets are the fast-growing smaller companies, like the Bid.Com(s) ... of the world.'' ''The reality is that everybody from Wal-Mart (Stores Inc. (NYSE:WMT - news)) on down is figuring out that building an e-business is not that easy,'' Pavan said. Pavan said that two routes are likely for smaller firms -- a mating with a retailer or with a similar company. ''This industry is definitely ripe for consolidation, and Bid.Com would be a target,'' he added. Another analyst, Adam Adamou at Taurus Capital Markets, remained more bearish on the company and valued the issue at somewhere between C$2.50-C$3.50, with the increase as ''speculative gravy.'' Mike Abramsky, president of New Media at Rogers Communications Inc. (Toronto:RCIb.TO - news) which is the company's strategic partner, noted that the Canadian Internet market so far has failed to match the heat of the one in the U.S. Abramsky, who is Bid.Com's board of directors, added: ''It's a good company that's going places and the Internet market is very hot right now.'' ($1=$1.51 Canadian)