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Technology Stocks : America On-Line (AOL)
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To: Rascal who wrote (23482)6/22/1999 7:50:00 AM
From: Steeny  Read Replies (1) of 41369
 
AOL got dumped because all high PE stocks got dumped at a time when it was unclear how fast interest rates were accelerating. Combine this with the incredibly rapid run-up to 175 which induced profit-taking and the fact that AOL's cable strategy is undefined. In retrospect, it is easy to see why AOL dropped almost 50%.
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