Amazon.com, Inc. (AMZN) Message Board

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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 220.66

+1.6%

Nov 21 3:59 PM EST

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To: Glenn D. Rudolph who wrote (102342)	4/28/2000 11:14:00 AM
From: Alomex	Read Replies (1) of 164684

I been writing in this forum on and off since its inception (see posting #25, May 1997). My line remained pretty much unchanged for these three years: this stock is richly valued, but should not be shorted. I stuck to that line until November of last year, when I decided that at long last this stock was ready to be shorted. Needless to say it took a lot of stomach fortitude to hold steady as the stock started climbing, and even more wits to double my short position at $95 (there were nights I couldn't sleep). I covered in mid January, following the rule that if returns ever exceed 400% (annualized) its time to pull out. Right now I have no position on Amazon, and the stock has fallen substantially since I covered the short. Yet, the latest quarter sales figures suggest that this is stock is still a good short. 30% growth per quarter is well behind us (in fact we are now at around 12%). As a retailer Amazon will settle in the longterm at a P/S of 1-1.5. At the current growth rate it will take over five years of flat stock price to reach that multiple... YMMV.

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