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Technology Stocks : America On-Line: will it survive ...?

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To: James F. Hopkins who wrote (3299)6/2/1997 6:50:00 PM
From: earthling   of 13594
 
James -

I don't agree that the stock price is the result of a process of some sort of consensual manipulation among speculators. What's truly happened is a reassessment by the market of the prospects of AOL. People have concluded that AOL has achieved the critical mass to surf the Internet wave rather than be engulfed by it. With no competition any longer in sight and the name brand entering the (world!) culture, AOL is establishing a virtually impregnable position. A market cap of $20B within the next 5 years is not at all unreasonable. In media, critical mass is everything--every company gets a shot at being a winner or a loser, and there is no inbetween. The market has judged AOL a winner.
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