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Technology Stocks : America On-Line (AOL)
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To: Sonny McWilliams who wrote (27296)7/29/1999 6:23:00 PM
From: Jeff Dryer  Read Replies (6) of 41369
 
Analyst recommendations can be the curse of death.

Here's an example:

On May 11, 1999 (and with much fanfare), Mary Meeker/Morgan Stanley upgraded AOL from an outperform to a STRONG BUY!

On May 11, 1999, AOL closed at about $140 and has been going down ever since. I wonder who bought on the recommendation and who sold?

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