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 Technology Stocks : BLUEFLY.COM(BFLY)

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To: JustMy2Cents who wrote (443)10/5/1999 1:01:00 PM
From: Joe CaseyRead Replies (1) of 487
 
Gruntal says that Bluefly will reach $300 million in sales. Most Internet companies trade at sales multiples above 20x. For Bluefly, let's say the street is still skeptical of the online apparel business and only rewards BFLY with 4x multiple. That gives BFLY a $1.2 billion market cap and a stock price of $240. I think I can live with that. Let's see, 1,000 shares today will be worth $240,000 by 2004 according to Gruntal and a conservative 4x sales multiple. That's a 2,400% return in 5 years.
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