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Technology Stocks : Internet Guru Discussion -- Ignore unavailable to you. Want to Upgrade?

To: E. Dita who wrote (1271)	4/23/1999 11:09:00 AM
From: Crazy Canuck	Respond to of 4337

>>Mark Pavan, an analyst at Yorkton Securities, which underwrote Bid.Com's last three rounds of financing, cut his rating on the stock << Just so that you have a more balanced view on this action, here is some information that I have gleaned after reading the BIDS thread. Yorkton was an underwriter for this stock when it listed on the TSE. It has been credited with helping to move the shares up to their highs. I read recently that it was in line for being one of the MM's for the new listing on NASDAQ. At the last minute, they were excluded as a MM. Many people on the thread state that in reaction to this exclusion, it appears that they waited until it was vulnerable to make their ratings change. Despite purchasing, then selling, the stock at higher levels, they have now fixed a target price of $2 to $3 for the stock. By the way, the fundamentals of the company, the gross margins, partnerships, and progress on their business plan are all considerably stronger now than when Yorkton set a much higher initial valuation on the company. If this is indeed true, it will be interesting to see how they explain the discrepancy between their old and new valuations calculations. I am also led to believe that on the day of the downgrade, they were net purchasers of the stock. They appear to have been a net purchasers of this stock for the last while. It was also just posted that they purchased a block of one million shares. Also, so you know, I understand there have been many complaints filed with respect to their actions with the TSE, SEC, and IDA. I don't think that we have heard the last of this story. Note: Please confirm the accuracy of what I have stated for yourself. You should not take anyone's word as the truth, as there has been a huge amount of misinformation swirling around about this company. Please, do your own DD! Crazy Canuk