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| Stock Symbol: NNCI (OTCBB) News: |
Vancouver based NetNation is rated among
the top ten web hosting companies in the world by web
host evaluators HostIndex
and Tophosts.
The industry is expected to grow from a billion dollars
this year to $15 billion in three years according to
analysts. With client base of 6500 in 91 countries and growth of 3000% in the last two years, NetNation is on the move. The company only went public in May 1999 and is relatively unknown among investors. But analysts like the Inner Circle's Bill Ridley have been actively promoting the stock recently. In a special report of July 6th, Ridley says that the really big news for NetNation is that it is among the select few companies recently designated by the Internet Corporation for Assigned Names and Numbers (ICANN) to register Internet domain names, a function exclusively handled by Network Solutions previously. NetNation has been working in partnership with them for some time, registering over 18,000 names on behalf of NetNation clients. Although entitled to take on this role as of July 9th, the company says it won't actually start registering names until October 1st as the transition process gets put into place. Revenue growth has averaged over 25% a quarter for the last nine quarters. 1998 revenues increased to $1,643,757 from $471,968 in 1997, but the company is not yet profitable. Loss for 1998 was around $160,000. Ridley compares NetNation to U.S. webhosting giants Mindspring and Verio, neither of which is rated as highly by HostIndex. Both trade at far higher market caps than NetNation and Ridley says the company represents a superb bottom fishing opportunity. "It makes sense," he says, "that the highly rated NetNation should have a market cap at least as high as its peers". Another newsletter writer, Kevin Barker of the IT Investor also recommends the stock in a report dated June 17th. He says NetNation is positioning itself as the "Starbucks of the Web hosting world". He also notes that NetNation uses Linux which he expects to be the preferred operating system for e-commerce in the future. Definitely a stock to keep an eye on. The company trades exclusively on the OTC BB. Shares Outstanding: 43,100,000
Global
Securities Report (PDF format) Note: Both the Stockquest and Tradersource reports linked above are reports commissioned and paid for by NetNation. Address: Phone: 604-688-8946 This page last updated: Sept. 6, 1999 |