--Sonny
Thanks for the extremely interesting report from the shareholders meeting. It's very useful to have our own set of eyeballs watching the goings-on. Unfortunately, on the day of a shareholder's meeting, when the company is trying to come up with everything good it can find to say, the market action today seemed to me disappointing. Today's volume, at about 15 million shares, was slightly below the 17 million average for the past month, and price movement was only a little better than the average change for the month, about 1/2 a standard deviation above the monthly average change. The percentage movement of AOL today, about 2.4% as compared to 3.3% for the overall Internet sector and 2.2 for the Dow, was also disappointing. In other words, AOL, a stock normally 3-4 times more volatile than the general market, only moved about the same as the general market. The most that can be said about that performance is that AOL is not currently a stock people are thinking much about, either from a buy or sell point of view.
Best,
--Steve |
