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

To: Robert Rose who wrote (1436)	5/22/1999 11:55:00 PM
From: Tom Hua	Read Replies (1) \| Respond to of 2743

Rob, look around net stocks, many including top tier ones are on the way down, some have lost about 50% from their peaks just weeks ago. We're entering the slow summer months which usually are bad for tech stocks. Did you remember what happen to net stocks last summer? Recent bullish events failed to lift the boat including the AOL analysts conference on Wednesday, Mary Meeker's most positive comments on AOL etc. PCLN may be the last to fall, but it will, and will soon. I continue to predict that PCLN will be around $50 before summer is over. Regards, Tom

To: Robert Rose who wrote (1436)	5/23/1999 12:19:00 AM
From: Tom Hua	Read Replies (2) \| Respond to of 2743

Of course I imagine that at some point there may be a peak, Rob, in my opinion, you have seen the peak. More than $5 million of last quarter's revenue (>10% total revenue) was derived from Capitol One as part of the adaptive marketing scheme. In simple words, Capitol One took part in subsidizing tickets in exchange for customers applying for Capitol One's credit cards. It was great for customers, good for Priceline, but terrible for Capitol One because the accounts were opened but unused. It cost Capitol One a small fortune. Unlike PCLN, Capitol One is not in the business of losing money. They learned a costly lesson and promptly canceled its agreement with PCLN effective May 1. How come there was no press release announcing Capitol One's cancellation? Wasn't it considered a material event which, per SEC regulations, should be publicly disclosed in a timely manner? Regards, Tom