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Technology Stocks : America On-Line: will it survive ...?
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To: Zoltan! who wrote (3025)5/6/1997 4:19:00 PM
From: Paul Westley   of 13594
 
>Is it because people are getting a better look at their numbers or is it that GTE - BBN deal, adumbrating
intense competition from telcos?<

I don't think the story has changed. AOL has just sound a new way to play games with the books. AOL leaked that it would be able to cook a profit for the quarter, and the investment banks, always looking for more underwriting business, served as the company's mouthpiece. Then the shorts, who are too technically-oriented, started closing and the momentum investors got involved. Now we see the shorts jumping back in and the momentum investors selling. Anyone but a real naif could think of AOL's games as genuine, but it will continue as long as Wall Street and AOL insiders continue to profit from the games.
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