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Technology Stocks : Booking Holdings (formerly Priceline) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Ray who wrote (1179)	5/5/1999 9:01:00 PM
From: Tom Hua	Read Replies (1) \| Respond to of 2743

Jim, listen to what WS has to say about PCLN. I think the stock is quite a bit ahead of itself," said Marc Klee, who manages the John Hancock Global Technology fund. "Its value seems to be awfully high for the prospects -- and I'm just baffled. You need to be able to see operating profits of $1.5 billion in the future to justify the $20-billion plus market cap right now." "I have no fundamental reason to fight Captain Kirk," said Roy Howard of Circle T Partners, referring to Priceline's TV ad featuring actor William Shatner. "The stock had just been bucking a downtrend in the group." "No matter how great a company is -- euphoria has gotten ahead of itself," added Klee. Indeed, it took newly-traded Priceline shares one month to surge 931 percent from debuting at $16 in late March to a high of 165 by April 30. At that price, the company, which began operations a year ago, commanded a near $30 billion stock value. . . . But Meeker did say in a note to clients that she wouldn't be surprised to see some "too far -- too fast" weakness in the stock.