>Anybody SHORT AMZN???
Anybody shorting Amzn at the start of the Xmas rush has more money than sense.
Btw
Bought ETYS and Pcln for a Xmas rush speculation play.
>
New York, Sept. 5 (Bloomberg) -- Amazon.com Inc., EBay Inc. and other Internet stocks rose on expectations that sales during the fourth-quarter holiday season will increase significantly from the same period a year ago.
Amazon.com, the biggest Web retailer, rose 4.19, or 10 percent, to 45.69 in Nasdaq trading. Online auctioneer EBay jumped 4.63, or 7.4 percent, to 67.50 after earlier reaching 68.94. Priceline.com, which lets customers bid on flights, hotel rooms and other items, rose 3, or 12 percent, to 28.94.
``If there's going to be Internet retailing, these are going to be the survivors,'' said Auxier Asset Management President Jeff Auxier, who oversees about $180 million.
Investors are betting that Internet sales will surge during the holiday shopping season. Online holiday sales worldwide are expected to jump 85 percent to $19.5 billion this year, according to consulting firm Gartner Group Inc. North America will account for about $10.7 billion of that amount.
The investor optimism is a change from recent months, when concerns about profitability and sales growth weighed down Amazon.com and other stocks.
``We've been through six months of incredibly negative psychology,'' Salomon Smith Barney analyst Tim Albright said. ``Now we're heading into seasonal strength, particularly for Amazon.com. EBay has a strong six months ahead of it as well.''
Priceline.com, which doesn't rely on holiday sales as much as other online merchants, rose in tandem, said Albright, who rates all three stocks a ``buy.''
Other gainers today included Barnes & Noble.com Inc., up 0.13 to 4.19; EToys Inc., up 0.22 to 4.88; Cyberian Outpost Inc., up 0.16 to 3.72; and Buy.com Inc., up 0.47 to 3.28.
Sep/05/2000 16:43 ET |
