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

To: Doug Robinson who wrote (66808)	4/8/1999 8:08:00 AM
From: 2MAR$	Read Replies (1) \| Respond to of 119973

SOF Will be moving from AMEX to NASDAQ on 4/14 as SOFN:SoftNet Rises 23% Amid Optimism for Cable Internet Companies Mountain View, California, April 7 (Bloomberg) -- Shares of SoftNet Systems Inc., which provides Internet service over cable- TV lines, rose 23 percent on optimism that more people will want to access the Internet through faster cable-TV connections. The company's shares surged 9 1/8 to 49 in trading of 925,100, more than triple the three-month daily average. The stock has more than doubled in a month. Investors have shown increasing interest in companies such as At Home Corp. that provide speedy Internet access over existing cable lines instead of phone lines. SoftNet concentrates on small and medium-sized cable systems and has the potential to be offered to 9.5 million cable customers in several years, said Vik Grover, a Kaufman Brothers L.P. analyst. ''I've dubbed this the 'Son of At Home,' '' said Grover, who has a ''short-term buy'' rating on SoftNet. At Home's shares have soared 57 percent in the past three months. They rose 3 11/16 to 165 13/16 today. SoftNet was largely unnoticed by Wall Street until March 19, when it filed with the U.S. Securities and Exchange Commission to sell 3 million common shares, Grover said. He became the second analyst to follow the company when he initiated coverage on March 22. There also is some speculation that SoftNet could become an acquisition target for At Home, Grover said. Mountain View, California SoftNet expects its offering to raise $58.3 million after expenses and will use most of the funds to market its service under the ''ISP Channel'' brand name. BT Alex. Brown is managing the sale. The company also said that trading of its common stock will move to the Nasdaq Stock Market April 14 and trade under the ticker symbol SOFN. It currently trades on the American Stock Exchange under the ticker symbol SOF.