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Technology Stocks : America On-Line: will it survive ...?
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To: craig who wrote (3837)7/3/1997 2:59:00 PM
From: James F. Hopkins   of 13594
 
Hi Craig; AOL is owened primarly by institutional funds. Some of
them have large enough holdins to manipulate the price. At least
one or two regularly short sell the stock, and buy back more
shares on the down side with the profits. Hence they are getting
these extra shares free. Also they bought in when she was dirt
cheap. They make money off the volitility..and have made tons
more money off the AOL shares that they use as cash when she is
up. IMHO It's a scam..but it's so big that it takes on the
apperance of respectability, and other brain dead fund managers
never give it a thought.
AOL is one of the most heavly shorted
stocks on the NSYE..so the price does not have to make sence,
the big hitters support the price, and wip it up and down to
take advantage of the highs and lows that they can mostly
controal. In time some other fund managers will decide to exit
the stock, to find out that if they do sell any amount they will
have to take about half price for it. As the lagest owner will
dump faster than they can..and then buy back after cheaper
after they are out. Any stock not just AOL; but any that has huge
short interest is no place for an individual investor..
Wall street abounds with scams.

Jim
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