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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Elmer who wrote (9445)	5/13/1999 5:02:00 PM
From: FIRENZA	Respond to of 29970

I don't want @Home & RR to merge. I frankly don't want @Home and Roadrunner to talk about merging right now. Any talk about an @Home Roadrunner merger is going to get the Feds all worked up. This, @Home doesn't need, nor does T, nor do we really. The announcement is meant to telegraph to the Feds what T's intentions are and attempt to cool the Feds off both on T's deals and the hole broadband open access issue. If anything this should be viewed as a positive. I was worried about @Home Roadrunner screwing other things up with the Gov't. One less reason for the Feds to force the opening of the broadband pipes to AOL etc, or to reject the T deals .

To: Elmer who wrote (9445)	5/13/1999 5:12:00 PM
From: E. Davies	Read Replies (1) \| Respond to of 29970

The real dilemma in owning a stock like this is that its price performance, in the short term, doesn't follow the theoretical models very well Nor does price follow the theoretical models in the long term. The value of a stock is based upon how much people are willing to pay for it. I know that sounds trite, but you really cant get any more accurate than that despite all efforts. It is a non-trivial issue that a very large percentage of ATHM is held out of the market in the hands of the cable companies who have absolutely no intention to sell. The market cap is just on paper and pretty much irrelevant unless T et. all decides to sell their shares. Try redoing your calculations based on the float and see how it turns out. Hint: the float is 1/4 of the total (before XCIT) I might also like to mention that ATHM growth is not limited in the same manner as your typical growth company. There is a vast pool of people waiting to buy the product who cannot. It is as if the company has a gigantic backlog of orders who will wait until the product has been produced to buy it. ATHM is capacity limited not demand limited for many years to come. Eric