You're obviously promoting B2B. Take it to that board please.
1) Please cite your references/links to your:
"1. Underwriters are selling. 2. Institutional holders are selling"
2) All .coms are revenue stories not earnings stories.
3) Onvi's market is geared to "small to medium businesses" is the nature of the industry for everyone in this sector at this point.
4) "No expertise, no niche advantage (measured by no. and spread of customers)" Name me some competitors around the same market cap that are doing better.
5) "and the dot com shake out will take Onvia with it." If the "dot com shake out" takes out Onvi, by then the entire sector will have been mangled so badly, so will most all other competitors, if not the entire stock market in a long term crash mode. Lets face it, our record breaking DOW & NASDAQ are based on high tech and the internet sector particularly. You fail to mention that ONVI is currently in a pretty good cash position and particularly compared to smaller dot com competitors.
And yes, I own 3000 shrs of ONVI and will this time next year.
Let me get this straight. Credit Suisse / First Boston takes Onvia out and issues a "strong buy" rating. This is a shock to whom? If I am taking someone out, I want to tell the world to buy it. Yes, my actions may be different, but this is business.
Earnings were released and there seems to be some discussion over the content. One camp says it was bad because Onvia did not spend $6mm on advertising and that brought the loss in lower. This camp also points to the Gross Margin situation (as in negative).
The other camp says earnings were good, since the loss was not as bad. They also point to dollar volume of sales and number of transactions.
Now a discussion has started again about competitors - without reference to the now infamous "we have no competitors" comment. Onvia is not unique to this space, just look at Staples, Office Depot, Office.com, etc.
It causes me great concern to see the following:
1) Whether perceived or real, the suggestion that Fisrt Boston is selling is not good. 2) That there appears to be little support for the model - atleast right now. Reasons are decent earnings and the stock has not responded. 3) The overall B2B space is the whipping boy right now. All stocks in this sector are down and there are others sitting on the sidelines waiting to get in.
Either way, either view you have this will be a very intersting ride. I wonder if anyone out there is looking at Onvia as a purchase target?
I think the biggest challenge for the market right now is figuring out who they are and what they do.
It was fairly clear what their focus was with the original model of selling products and services targeted to small business. It might even make sense to add some small business news. The addition of RFQ though, flies right in the face of there own products strategy, with Onvia competing directly with their own customers. The Auctions do the same thing and dilutes the impact of other parts of the business.
From my point of view, it looks like Onvia is trying to do too many things, without doing anything really really well.
The "No Competitors" statement, reiterated again the other day, is just like Wal-Mart saying K-Mart is not a competitor because "we have McDonalds in our stores". Mr. Ballman should openly reference his competitors and show the market that he knows who they are. According to their advertsing they think they compete with the yellow pages.
MY ADVICE: Get Focused. Do what you said you would do: "provide products and services for small business". Be the best at that and show how you can make money doing it, and investors will come back. It can be done - just look at CDWC.