To: The Perfect Hedge who wrote (25095 ) 4/8/1999 9:48:00 PM From: Jimmy Dunn Respond to of 50167
To be honest, I've been in and out of this stock for some time Early on, we expected the web site at cdmusic.com to be done much sooner, but in all fairness, official word from the company was end of quarter. They were only a few days late meeting that time frame, but I suppose that I and others got tired of waiting and the stock took a gradual move down. On the other hand, some of the people such as myself have watched this stock for a long time now, and know a lot of the story. At this point, some SI thread members have even visited their offices and reported back on the thread. They recently moved in order to make room for an expanding staff Reading the SI thread a ways back is good DD, and so I want go into too much detail off the top of my head. However, they have some very veteran music industry people in the company and this has been confirmed, both that they are involved in the company, and that they have considerable and lengthy reputations. Again, see some of the news releases for names and details. They have been buying record labels, and putting together a sizable portfolio for some time now, consistently adding to their growing inventory of both artists and labels. I personally have called their largest record distributor, one of the largest independents, and verified gnen's contracts with them. It looks like their timing was just right. They just opened the web site, and that is the reason for the breakout. However, with all the on-line music talk on the financial networks, we may be in for one of those rides where everything just clicks into place. I think one of the reasons they have been so low is due to a PR guy they had who was probably worse for the stock then having no PR guy. He's no longer there, and I have talked to several of the principles and find them up front. The head guy told me to expect the web site end of first quarter while the PR guy was telling everyone that it was days away. I also spoke to some of the people at the company. Again, they seemed honest and just trying to operate their music business. It was not a hype situation at all. So I don't know what else to say. Cheap stock, very probably entering a "hot" phase for the industry as the leaders gear up their promotional campaigns.