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Gold/Mining/Energy : Cybersurf (CY.A) - Bridge between 20th & 21st Centuries -- Ignore unavailable to you. Want to Upgrade?

To: Moosie who wrote (877)	3/29/1999 11:19:00 AM
From: Moosie	Read Replies (1) \| Respond to of 3243

Sorry about that, here's the story from The National Post. nationalpost.com Saturday, March 27, 1999 Investors leap into latest Internet bingo Dion stock heads north Garry Marr Financial Post First the stock of online auctioneers surged, then the shares of a mining company with an Internet courier link headed higher. Now there is a new game in town for Toronto investors -- Internet bingo. Shares of Dion Entertainment Corp. (DIO/TSE) -- already moving up after the company said earlier this month that it was launching an interactive online bingo site -- soared 21¢, or 9.9% to $2.34 yesterday. More than 1.8 million shares changed hands, making it the fifth most actively traded issue on the Toronto Stock Exchange. "You've got a lot of high speculation and low intelligence," said one Toronto-based analyst, who asked not to be named. The Internet has been a buzz word for stock issues south of the border for months but this week the craze swept through the TSE. Stock in Bid.Com International Inc. (BII/TSE), on Monday already worth more than 10 times the 56¢ a share it was trading at in October, climbed more than 115% in five sessions this week. It closed yesterday up $1.05, or 8.2%, at $13.90 after touching a high of $17.60. It was the most heavily traded issue on TSE. The stock was so hot on Thursday that for about 30 minutes in the afternoon there were no sellers. There was some talk that short sellers were being squeezed this week, resulting in the share price surge. As of March 15, there were 1.3 million short positions in Bid.Com, up 70,672 from two weeks earlier. Short sellers borrow stock with a hope of buying it later at a lower prices and the returning the security. Cybersurf Corp. (CY/ASE), another Internet-related issue that trades on the Alberta Stock Exchange, also advanced strongly. The Calgary-based firm this week started providing free software CDs to people who fill up at gas stations in Edmonton. It gives them free Internet access and free e-mail accounts. Cybersurf touched a 52-week intraday high of $1.10 yesterday before closing the session up 21¢ at 98¢. More than 3.3 million shares have changed hands over the past two trading sessions. Dejour Mines Ltd. (DEJ/TSE), a Vancouver-based junior mining company with a 5% stake in InternetDocuments.com, a Dallas-based Internet courier company, also was a big mover this week. Dejour stock more than quadrupled in just five sessions. It closed yesterday up 25¢ at 60¢ and was the second most active issue on the TSE. Part of the increased interest in Internet issues is spilling over from the U.S., analysts say. Yesterday, CNBC reported Amazon.com Inc. was looking to move into the online auction business and that had investors saying Bid.Com could be a possible target. The rumours also have found their way back to the U.S. Business Week yesterday carried a Bloomberg story on its website about Bid.Com's stock price movement.