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Ask Jeeves Holders Sell 5 Million Shares
The Excite/iWon/MyWay/et.al folks sold right away....
christopher w




msg:33593
 10:39 pm on Aug 4, 2004 (gmt 0)

From an article in The Street [thestreet.com]:

8/4/2004

Ask Jeeves slipped 6% after shareholders at a recently acquired company sold 5 million shares.

The Emeryville, Calif., Internet search engine said shareholders associated with Interactive Search Holdings sold Ask Jeeves stock they acquired in the companies' May 6 merger. Ask Jeeves said it granted the shareholders an early release from their lockup agreements.

The shares sold constitute these shareholders' entire positions, with the exception of their 752,236 shares that are held in escrow pursuant to the Interactive Search Holdings merger agreement, of which 601,805 shares will be released from escrow beginning Aug. 6, 2005.

Ask Jeeves fell $1.98 to $25.89

 

ogletree




msg:33594
 10:50 pm on Aug 4, 2004 (gmt 0)

They were smart. Who would want money that could explode at any second. Why in the world is AJ over $25. Do they even make any money.

Warren




msg:33595
 7:08 am on Aug 5, 2004 (gmt 0)

See there previous earning statements

[irconnect.com...]

Q2-04 resulted in $60.3Million in revenue with EBITDA of $18.1.

The signing of the Google deal, the increasing traffic numbers and the various acquisitions is meaning that Ask is strong. Hence why the share price is going so well.

chrisnrae




msg:33596
 5:36 am on Aug 6, 2004 (gmt 0)

The Teoma technology is actually pretty intriguing and may stand a chance with the right tweaking and marketing IMHO. The value of a company isn't always about the "now". Sometimes the value is in what people think it can do "soon".

Warren




msg:33597
 8:16 am on Aug 6, 2004 (gmt 0)

The value of a company isn't always about the "now". Sometimes the value is in what people think it can do "soon".

Isn't that what powered the dot.com boom, and ulitmately the bust? ;-)

chrisnrae




msg:33598
 3:41 pm on Aug 6, 2004 (gmt 0)

True, but it is also what powered people to invest in the Microsoft and IBM's of today. Not only what they could do at the moment, but the potential people saw for the future as well.

goodroi




msg:33599
 8:15 pm on Aug 6, 2004 (gmt 0)

As for investors valuing stocks based on now or the future, I have a case in point. FindWhat has been increasing profitability almost every quarter and yet its stock has decreased almost 50% during the last month. I can't figure out the technology stocks anymore. My guess is that people just don't want any risk.

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