America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: earthling who wrote (3301)	6/3/1997 11:47:00 AM
From: richard price	of 13594

>James - I don't agree that the stock price is the result of a process of some sort of consensual manipulation among speculators. What's truly happened is a reassessment by the market of the prospects of AOL. People have concluded that AOL has achieved the critical mass to surf the Internet wave rather than be engulfed by it. With no competition any longer in sight and the name brand entering the (world!) culture, AOL is establishing a virtually impregnable position. A market cap of $20B within the next 5 years is not at all unreasonable. In media, critical mass is everything--every company gets a shot at being a winner or a loser, and there is no inbetween. The market has judged AOL a winner.< Balderdash!!! I do not agree with James's manipulation scenario, but the only reassessment going on is just how clueless the individual investor really is. These rallies are being driven by underwriter (always in the pursuit of fat fees) recommendations, momentum investors, and shorts, the latter two parties on the misguided beliefs that they can time the stock. Any individual investors getting carried along are headed for slaughter.

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