America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: Steve Robinett who wrote (5886)	11/13/1997 8:52:00 PM
From: jack rand	Read Replies (4) of 13594

What I don't get is who anywhere in the world would buy 4% AOL 5 year paper (subordinated yet) on stock at 40% discount to strike; when 5 year T-Notes yield 5.65% and commercial paper 6%+. Even if the note was sold at 20% discount that's still only 5% imputed. Notion that the buyer knows something about the stock doesn't wash because all kinds of insider info regs would be violated. BTW, the clown at Oppenheimer who issued a 'buy' three weeks ago when AOL was at $80 is quoted on DJ as saying drop in stock is due to worries about 3% dilution. Idiot! Not only aren't the shares even counted in the SO yet; but the market (institutions) doesn't mark down a stock like AOL 6% (Wed-Thur) over worries about 3% dilution.

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