Amazon.com, Inc. (AMZN) Message Board

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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 240.91

+3.4%

2:24 PM EST

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To: Kailash who wrote (5379)	6/10/1998 1:56:00 PM
From: Oeconomicus	of 164684

...this is a major vote of confidence in Amzn by big institutional investors. We now have a target of 88... First, how do you get that this is institutional buying (that "will stay in a little longer")? Based on the apparent ease of getting shares to short today? Isn't it more likely that this is an indication of capitulation by many shorts and, unlike previous squeezes, a hesitancy on the part of others to open new short positions. Previously, when we saw shorts rushing to cover, it was still relatively difficult to find shares - probably because they were covering by buying from new shorts. That does not, based on comments here (and capitulation here), appear to be the case this time. Second, where did you get an $88 target? If you are talking about analyst Keith Benjamin at Robby Stephens, you are mistaken. As I've pointed out several times now, that was a pre-split target. RS' target stands at $44 now. Regards, Bob

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