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Non-Tech : Barnes & Noble (BKS) -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (1149)	5/12/1999 10:02:00 PM
From: Lockhart	Read Replies (1) \| Respond to of 1691

C'mon man! You sound like a major hypester. Chill out......Are you trying to convince us?....or Yourself?

To: American Spirit who wrote (1149)	5/12/1999 10:35:00 PM
From: Glenn Petersen	Respond to of 1691

"As several posters have pointed out, if BNBN goes high enough and holds that price (deemed a smaller but growing version of Amazon) then BKS's piece of BNBN will be worth it's current market cap alone." BNBN would have to be selling at approximately $68 per share and that is not going to happen. Do the math. BKS has a current market cap of $2.410 billion. After the over allotment option is exercised, BNBN will have 143.750 MM shares outstanding. Multiply that by $68 and you have $9.775 billion. Multiply that by 41.1% (BKS' post IPO ownership percentage of BNBN) and discount the balance by 40% for tax and liquidity considerations. That leaves you with $2.428 billion. If BNBN were to have a market cap of $9.775 billion, that would be equal to approximately 43% of the market cap of AMZN. Is that justified? Be happy with $40-45. At the rate we are going, I'd be delighted if it goes over $40.