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Twice each month at Noon EST on Sunday, Stockprowler will bring you his latest hot stock pick...free on the Web! Stockprowler uses state of the art technology to look under the rocks and find those little stocks with the potential to make the BIG moves. Stockprowler screens NASDAQ, NYSE, AMEX, and OTC Bulletin Board stocks trading around $3 or under. These stocks offer considerable leverage at minimal cost. It is not uncommon for these stocks to make moves of 30%, 50%, or more. Please read our disclaimer before trading in any stocks mentioned on this Web site. So are you ready? Here's the Stockprowler report for the week of Sunday December 2, 2001: |
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Stockprowler’s
pick this week...
Sitestar Corporation, based in Sherman Oaks, Sitestar’s Internet operating subsidiaries provide Internet services to its customers by providing a comprehensive suite of enhanced products and services to meet the expanding needs of its customers. These products and services include: providing narrow and broadband Internet access, electronic infrastructure development, Web-hosting and design services, and other technology-related solutions to residential and business users. Sitestar's wholly owned subsidiaries include Sitestar.net, Lynchburg.net, Computers By Design, Advanced Internet, Soccersite.com, Greattools.com. Sitestar also owns a majority position in TriVantage Group (OTC BB: TVGE) and has a minority equity investment in Qliq-On Corp. On November 20, Sitestar announced revenues for the quarter ended Sept. 30, 2001, increased to $1.08 million from $474 thousand for the same period of 2000, an increase of 127%. Revenues for the first nine months ended Sept. 30, 2001, increased to $2.9 million from $1.3 million for the same period of 2000, an increase of 125%… this during a period of steep market decline, especially for the ISP sector. In addition to considerable insider buying recently… and over the last year, Sitestar announced on November 26, that the company itself had repurchased 10.6 million shares of its common stock. This recent stock purchase represents 11.5% of Sitestars’s fully diluted shares outstanding. Clinton Sallee, CEO of Sitestar, stated, “We are excited about this recent stock repurchase and we believe that this demonstrates management's conviction about the long-term viability and potential of the Company. Our stock price has been tremendously undervalued for some time now and we feel that we've been trading at an unjustifiably very low valuation in spite of our recent operational success. Therefore, we did not hesitate to take advantage of this opportunity and will continue to do so as opportunities arise.” Stockprowler.com agrees… in fact, we find in our considerable experience with OTC stocks, that it is extremely rare for a company and its insiders to buy back shares on this order of magnitude… Sitestar Corporation (OTCBB: SYTE) closed up 40% on Friday at 4.2 cents on volume of 2,772,800 shares. Positive cash flow, quarterly revenue increases (despite tough economic times), pursuing acquisitions that are accretive to the bottom line, company buyback of shares, insider buying… looks like a ground floor opportunity to us. Stockprowler.com did not receive compensation of any kind from the company or third parties for writing this report. Readers are urged to read the company SEC filings and do their own due diligence before investing in this or any other stock. Good Trading... Stockprowler |
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