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

To: GrokSoup who wrote (18326)	4/9/1999 3:10:00 PM
From: Sulayman	Respond to of 37507

Well, i am off for now. Lib... if you have any further questions, i would be glad to answer them for you.

To: GrokSoup who wrote (18326)	4/9/1999 3:14:00 PM
From: Sulayman	Read Replies (3) \| Respond to of 37507

I have to post this before I go. I guess this joker has finally decided to take his foot out of his mouth and shut up. Bid.Com defies analysis Bid.Com International Inc BII Shares issued 38,963,434 Apr 8 close $30.70 Fri 9 Apr 99 Street Wire NEW VALUATION TECHNIQUE NEEDED by Stockwatch Business Reporter With Bid.Com hitting an intra-day high of $32.35 on April 8, at least one analyst is shaking his head and wondering whether a new valuation technique is needed when it comes to Internet stocks. Taurus Capital Markets analyst Adam Adamou has been bearish on Bid.Com for some time but has decided to steer clear of another recommendation. "Frankly, I don't know any more," Mr. Adamou says. In early December 1998, Mr. Adamou drew the ire of Bid.Com president Jeff Lymburner for claiming that the stock was a game for fools and greater fools, suggesting the company was overvalued, even compared to similar Internet issues. At the time Mr. Adamou's comments appeared in the Financial Post, the stock was trading at $4. On Feb. 10, with the stock trading close to $6 another Post article had Mr. Adamou and fellow Taurus analyst David Dvorchik claiming that Bid.Com was their top sell pick. Recently, the stock has rocketed up on heavy volume, trading over 22 million shares this week and breaking above $30. "It's not the first time somebody has been wrong in calling one of these stocks," Mr. Adamou says. Mr. Adamou points out that, apart from hype on Internet chat sites, nobody would have predicted a $30 target for Bid.Com. He suggests that the large number of retail traders who are managing their own portfolios and trading over the Internet may, in part, account for the phenomenal rise in the stock price. "There is clearly hysteria going on," he says. At present prices, the company has a market capitalization of more than $1.5-billion, and Mr. Adamou cannot square that with fundamentals such as a gross margin of approximately three per cent and quarter over quarter growth of 1 1/2 per cent. He adds that even potentially troubling news from competitors, such as Amazon.com's announcement of a move into on-line auctions and eBay's top auction spot on AOL, seems to have had no effect on the stock. "It's trading on something that I have yet to decipher." "Traditional valuation techniques no longer apply," Mr. Adamou says. He adds that he does not begrudge anyone making money trading the stock. "As a short term, no fundamentals, that's great," he says. He is willing to entertain the notion that a new valuation model may surface which will allow analysts to make sense of the Internet frenzy but he seems to lean toward fundamentals eventually being reasserted and reflected in the share price. "Either there has been a complete change in how we value things or these stocks are way overvalued." Until Mr. Adamou is sure one way or the other, he has decided that 'mum's the word' on Bid.Com. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com