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Technology Stocks : AMERica on-Line, Another over valued company?
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To: Mojie Aghaalian who wrote (197)8/9/1996 10:35:00 AM
From: Zoltan!   of 222
 
WSJ reports today that:

1)America Offline's churn rate is now up to 50%. More cancel after free trial without buying even a month.

2)America Offline's subscriber loss is coming from their heaviest users. Ominous.

3)America Offline will only be giving members a 30-60 CENT credit for their outage. Crisis management consultants quoted find this insulting and likely to spark a backlash.

4)Smith Barney analyst slashes through the accounting veil and states that any profits reported during the last two years are a financial fiction - close to $300 million in deferred marketing costs - more than wipe them out.

5)Management was not truthful about the firing of the president.

I have been informed that AMER management receives an unusually large proportion of their remuneration in the form of stock options. It should be clear now why they hype the stock so relentlessly.

To say this stock was way overvalued would be an extreme understatement.

Regards
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