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July 21, 2005 Stock Pick: Arbinet-thexchange, Inc. (ARBX)

Stock Price: $6.95

Arbinet-thexchange, Inc. operates an electronic market for trading. Through the Arbinet Web-based interface and fully automated trading platform, members' orders are automatically matched using the company's own software and delivered through its facilities.

ARBX traded at $30 a share after its IPO last december, it has since dropped drastically, most recently because the company has lowered 2005 guidance. ARBX has bottomed for the last month and is beginning to trade solidly at a higher level.

Volume has picked up significantly since the stock has fallen below $8.00. There is obvious accumulation as ARBX may be getting ready to fill the gap between $8.05 and $11.46.

Exchange stocks are hot as of late and we don't see why ARBX will not join in on the fun. Second quarter results are due out August 3rd, earnings are expected to be between $500,000 - $1 million on revenue of $11 - $11.5 million. This leaves room for improvement, expect a run higher before earnings are reported.

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