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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 233.05+2.9%Jan 5 3:59 PM EST
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To: Tom D who wrote (27393)11/20/1998 3:04:00 PM
From: Rob S.  Read Replies (1) of 164684
 
Who said he was? I admire Bezos - he's very smart and has manipulated his company's stock like the pro hedge fund operator that he was. But speculators have let the idea get to their heads that this means that the stock can never fall dramatically - after all they have brilliant Bezos to depend upon to keep coming out with new things to keep it in the lime-light during the period in which insiders are selling. This is not the last time this will happen and it is a "normal" part of the high tech stock game. But it is particularly precipitous with the high-flying Internet stocks, particularly ones that base their businesses on high volumes of sales of low margin commodities. The sales figures look great but the picture is grossly distorted compared to portals which have up to three times the amount of gross margin to play with.

I'm sure that most of us have never met Bezos except, perhaps over the phone. But it's fairly transparent to see that the company is playing the stock movement to the max while insiders are doing a round of selling. That is a great service to a few insiders and VCs and a probable failure to their fudiciary responsibilities to look after the best interests of all investors.
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