THE CONTRARIAN
BUY ALERT:
RecycleNet Corp.
Symbol - GARM (OTCBB-pink sheets)
Recent Price - $.35
52 Week Range - $.12 - .75
Estimated Float - 4 Million
Shares Outstanding - 78 Million
Now that Microsoft and other Internet stocks have fallen, it's time to
sift through the wreckage and look for treasure. As Contrarian investors,
we've been waiting for this dynamic group to fall out of favor temporarily,
so we can buy at discounted prices.
The following stock should be purchased for long-term capital gains:
RecycleNet Corporation is hardly a new player in the dot.com game -
they went electronic in May 1995, after many years in a print format.
Their founder and current Chairman, Paul Roszel, has been in the
recycling business for over 20 years, and has vast experience with
every type of scrap commodity.
Recyclenet is part of the booming "B2B" business to business portion
of the Internet. It is estimated that B2B electronic commerce will soar
from $17 Billion in sales in 1998 to $327 Billion by 2002. Electronic
commerce gives GARM the ability to trade with other companies all over
the world, at very low cost. They earn money from subscribers who pay
a monthly fee to join their Recycler's Exchange.
What is the reason to buy now? RecycleNet should be reporting excellent
revenues and earnings in the next quarter, the floating supply of shares is
small, and the financial community is just starting to discover GARM. They
have filed their Form 10 to become a reporting company with the SEC, and
they should be emerging from their pink sheet listing soon.
Meanwhile, traffic at their web site is hitting record numbers (almost 2 Million
page views per month), and is growing at over 20% monthly. With the stock
trading at half of its February peak, The Contrarian believes that GARM can
reach the $1.50 level near-term, with even higher prices further out. Take a
position now while RecycleNet is on the bargain shelf.
Disclaimer: The Contrarian has no affiliation with the issuer, and has received
no fee from RecycleNet for this report. The Contrarian and/or its affiliates
currently
own shares of RecycleNet, and may buy or sell shares at any time after the
dissemination of this report. Because the publisher owns this stock, there may
be a conflict of interest in the Contrarian's statements and opinions. The
Contrarian
is not a registered investment advisor, broker or dealer. Purchase of this stock
may be considered speculative, and may result in the loss of some or all of any
investment made.
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