Altaba Inc. (formerly Yahoo) Message Board

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Technology Stocks : Altaba Inc. (formerly Yahoo)

AABA 19.63

0.0%

Nov 6 4:00 PM EST

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To: Bill Harmond who wrote (738)	6/14/1997 10:04:00 PM
From: Bill Wexler	of 27307

Interest rates are irrelevant to Yahoo in the short to intermediate term. Earnings are relevant. Yahoo is a money-loser. Paying 1 billion dollars for a souped-up web site that's bleeding cash is silly. Don't bet on internet advertising...in the long run, you'll be sorely disappointed. Just because the stock hasn't been "broken" yet is also irrelevant. You're right that expensive stocks can get more expensive, but inevitably, always, 100% of the time, they will eventually reflect earnings. My price target for this company is in the single digits. if the stock continues higher, I'll simply dollar cost average. I point again to the enormous amount of insider selling. If it was a few insiders selling relatively small portions, I wouldn't be alarmed. Unfortunately, you have TWENTY FIVE insiders selling a significant percentage of the float simultaneously (check all insider sales in the last three months, you will not find a single company with this many insiders bailing - and Yahoo only has about 150 employees!!!). Manipulation can only move a stock so far before real sellers can't pass the offer up. That's exactly why so many shares are being dumped now. There will only be a few people getting rich off this IPO...the underwriters and a few company executives. It isn't going to be you or any other post-IPO investor. The Yahoo debacle reminds me of Xylan. If you want to see what a greedy underwriter can do by hyping and then overpricing an IPO, check its chart (XYLN) for the past 2 years. By the way, unlike Yahoo, Xylan actually makes money.

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