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

To: limit who wrote (22543)	4/19/1999 8:16:00 PM
From: Curious Gamble	Read Replies (2) \| Respond to of 37507

Monday April 19, 7:31 pm Eastern Time RPT -Canada's Bid.Com gets hoped-for Nasdaq listing By Lydia Zajc TORONTO, April 19 (Reuters) - Canadian stock market sweetheart, online auction house Bid.Com International Inc. (BII.TO - news), won a long-awaited spot on the U.S. Nasdaq market on Monday. But the stock took a knock since the anticipated move had already been factored into the Canadian price, analysts agreed. The Internet auctioneer, which has been compared by some to U.S. electronic retailer eBay Inc. (EBAY - news), fell C$1.85 to C$25.85 on the Toronto Stock Exchange in late day dealings. eBay also had the wind knocked out of its sails on Thursday: it dropped $20 to $156. The Toronto-based electronic emporium, which auctions everything from computers, to collectible stuffed Beanie Baby toys, to diamond bracelets, will have the symbol BIDS. Bid.Com's Chief Executive Paul Godin said the listing would be good for liquidity and credibility. ''I think we're going to have a higher profile here.'' Bid.Com boosted its own visibility around Canada's biggest city recently, with billboards advertising the freedom of home shopping. They show a nude woman lying on a bed staring into a laptop computer -- which discretely covered most of her body -- with the slogan ''shop naked.'' In the past seven months the stock has soared from a 52-week low of C$0.56 to a high of C$32.35 before falling back. ''There's no rhyme or reason really, when it gets to Internet stocks,'' said analyst Joe Greene at International Data Corp. in Toronto. The drop in Monday's stock price could be due to profit-taking, Greene noted. ''I think that it's a lot of small investors who are really going nuts on the stock,'' Greene said, including those who hope to pad their retirement nest eggs. Observers agree that Bid.Com's Nasdaq action on Tuesday is anybody's guess. But equities traders are betting that the institutions, which trade huge blocks of shares and really move prices, will still not pick up Bid.Com despite the Nasdaq listing. They describe Bid.Com as a ''retail play'' or for individual investors only. Godin agreed with that assessment -- in the short-term. ''Like most Internet stocks it's going to stay retail.'' Institutional analysts are not likely to release research on the stock on Tuesday, but could in a couple of weeks, Godin added. ($1=$1.49 Canadian) More Quotes and News: Bid.Com International Inc (Toronto:BII.TO - news) eBay Inc (Nasdaq:EBAY - news) Related News Categories: Canadian Market News, retail, US Market News Help