| Lou Victor : Sotheby’s on Auction |
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| Friday, 09 November 2007 | |
Lou Victor : Sotheby’s on Auction(NAMC) - In Thursday’s trading session the auction house Sotheby’s (NYSE: BID) took a beating on Wall Street as their stock dropped $14.23 to close at $35.84, this was based on disappointing auction sales and of course the barrage of downgrades that followed suit. But when a stock drops this hard and heavy this quickly, its either because there is something really wrong with the company and their finances or that it was just oversold by an institution or two, maybe three. In this case I believe that Sotheby’s was just oversold and once investors see its true value you may see it settle in at the low $40 range. Investors need to keep in mind that Sotheby’s is far from being an Escala Group (NASDAQ: ESCL) Rule of thumb, especially with solid companies, buy into weakness and sell into strength. (as featured on NAMC’s Wall Street to Main Street)
Louis Victor
NAMC Newswire Note: NAMC Worldwide provides Investment Banking consulting services to both publicly traded and privately held companies, everything from capital raising to mergers and acquisitions. Other areas of focus are Private Equity Capital Raising and Private Commodity Transactions.
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