Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Druss who wrote (3791)	2/28/1998 8:29:00 PM
From: Lazlo Pierce	of 18691

Druss here ya go latimes.com Part of the article << ÿÿÿÿÿAmazon sold a minority stake of 3 million shares when it went public last May. Subsequent selling by its original stockholders has increased that number, but Grandinetti said Amazon itself doesn't know the total number now outstanding. ÿÿÿÿÿVarious analysts have put it at between 3.5 million and 10 million. ÿÿÿÿÿYet the Nasdaq stock market, in its most recent monthly figures on the short-selling of Nasdaq stocks, said that a whopping 3.2 million Amazon shares had been sold short and not yet repurchased by short-sellers as of two weeks ago. ÿÿÿÿÿGrandinetti said Amazon acknowledges that the short position in the stock "is substantial" but declined further comment. ÿÿÿÿÿEven excluding the short-sellers, analysts say there are far more investors who want the stock than there are shares available. ÿÿÿÿÿMary Meeker, an analyst at Morgan Stanley, Dean Witter Inc., noted recently that there is "a significant imbalance between supply and demand, and this has been a key factor in boosting the share price." >> Dave

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