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ONSL and EBAY are just 2 examples of the potential stock gains to be made from investing in auction houses that are able to successfully build a profitable business on the web. However, which will be the next one? GMAI with its Oct. 30, 1998, acquisition of Teletrade for $6 million now has combined sales of $43 million and becomes one of the elite auctioneers to conduct business via the internet. Before the acquistion, GMAI was profitable and its profile states earnings of 6-cents per share with a PE of 40. Now, for the best part. GMAI has 4.42 million shares outstanding and only 2.6 million in the float. This places its market cap at approximately $16 million- a far cry from EBAY's marketcap of 3.3 billion or ONSL's market cap of $350 million. So, what are we waiting for. Personally, I am waiting for the bell on tomorrow's open! | ||||||||||||||
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