Salon.com closes at $0.01

Drudge ^

[Straight Vermonter]

Splits: none
Last Trade Oct 4 · 0.01	Change -0.03 (-75.00%)		Prev Cls 0.04	Open 0.04	Volume 88,500
Day's Range 0.01 - 0.04	Bid 0.02	Ask 2,000.00	P/E N/A	Mkt Cap 142K	Avg Vol 26,378
52-wk Range 0.01 - 0.26	Bid Size 4,500	Ask Size 100	P/S 0.16	Div/Shr 0.00	Div Date N/A
1y Target Est N/A	EPS (ttm) -0.26	EPS Est N/A	PEG N/A	Yield N/A	Ex-Div N/A
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[KingKongCobra]

Soon this "one cent" stock will reach the fair market value that its "no sense" product deserves.

[Timesink]

Of course, you realize that this means if it managed to go back up to 2¢, you'll have realized a 100% profit overnight, which ain't bad. It just might be worth placing a couple hundred dollars on a bet.

[RedBloodedAmerican]

Just proves you still can't get anything for a penny!

[Burlem]

Our town paper had Kingsley on as a guest columnest today, I did not read it, I cannot stand him, and when he is on TV I am transfixed with his mannerisms cannot pay attention to what he says.

couldn't happen to a nicer guy!, maybe his style of writing is why the liberal left cannot have a primetime talk radio show

[THX 1138]

I normally don't like penny stocks.

[razorback-bert]

Some must have bought and held this POS.

[KingKongCobra]

Don't forget commissions. A 2 cent/share commission means the stock would have to quintuple (to .05) just to break even. I think it's a bad bet even at a penny.

[razorback-bert]

Well, well, one stock.com has delisted Salon.

You can still get JPM at http://www.frameastock.com/gifs/jpm.html

[ozzymandus]

Uh,oh! Where will molly ivens steal her columns from now? Oh well, there's always the Nation (for now, anyway).

[John Lenin]

I still think it's overvalued ....

[adam stevens]

Have you heard that it is likely to go out of business. That would be a wonderful thing.

[SamAdams76]

So if I pay a penny for a share of Salon.com and you give a penny for Barbara Streisand's thoughts, which one of us is getting ripped off the most?

That's a tough one.

[lasereye]

Kinsley's technique is to demonstrate some contradiction or other in the conservative viewpoint based on straw man arguments, hence proving the total lack of intellectual substance or honesty in Conservativism. In the case of Iraq, I imagine it's similar to what the British writer Fisk has been saying, i.e., when Saddam killed his own people in the past, it was okay by us, but now suddenly it's not!!! You'll never see a mention of REAL contradictions, like the Democrats getting behind Clinton's aborted plan to take military action against Iraq in 1998, and now having all sorts of problems with Bush wanting to do that.

[wideawake]

The stock will never, technically, go to zero. There will simply cease to be a public market for it.

Let's look at the fundamentals: the company's market value is ~ $710K. It has $9M in reported assets, including $388K in cash.

According to its latest cashflow statement, the company is burning $1.1M every three months.

What the market is saying is: we have no confidence that the reported assets can ever be converted into cash at book value.

One of two things happens now: the company will file Chapter 11 and look for a new investor to throw in good money after bad either through a recapitalization or an acquisition; or the company will file Chapter 7 and liquidate its remaining assets.

In either case, Salon will soon cease to have an independent existence.

[Dusty Rose]

So if I pay a penny for a share of Salon.com and you give a penny for Barbara Streisand's thoughts, which one of us is getting ripped off the most?

That's a no-brainer...you're better off investing in Salon.

[Mr. K]

What's a "salon.com" ???

[vannrox]

.


SALON Jun 99
10.44
10.81
9.00
9.50
577,137
9.50



.

[Chemist_Geek]

How much would it take to buy control of the company and turn it into something useful? I mean, if the stock's a penny a share...

[HighWheeler]

How much would it take to buy control of the company and turn it into something useful? I mean, if the stock's a penny a share...

don't want to do that

They probably have a huge debt load.

When they fold up shop and put the website name on auction, FReepers can buy the Web name, and put a direct divert to Freerepublic.com

[Freemeorkillme]

PING-the sound 1 cent makes when it hits the ground