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Technology Stocks : America On-Line: will it survive ...?
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To: steve lipson who wrote (3490)6/19/1997 12:34:00 AM
From: Harry Larson   of 13594
 
>The only thing Internet/online stocks are valued on
>is growth/potential growth,

Yeah yeah. Cash doesn't matter, Assets don't matter. That AOL
sells for 27 times cash+book, and 70X FY98 estimates is totally irrelevant. Congratulations for describing a story stock.

And AOL is the world's longest running, having spent five years
growing subs and revenue 4,000% without making a profit.

Story stocks are great until one day, which always comes,
the market decides to look at the numbers at all critically
and comparatively -- or some bad news comes out (which always
does) and the stock does a jack knife cannonball accelerated by the
mo players.

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