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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 239.26-1.0%Jan 30 3:59 PM EST
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To: Candle stick who wrote (741)11/11/1997 4:51:00 PM
From: William T. Katz  Read Replies (1) of 164685
 
The big question is who would buy the stock? AMZN still very overvalued and lock-up ends tommorrow. That may not mean instant selling, but over the next month it certainly means downward pressure. Only thing I can think of are pros that try to start a short squeeze if they think newly freed-up shares won't be coming onto market real soon. But with those VCs sitting on lots of very profitable shares, I doubt it. Other possibility is a secondary offering with bundled selling (a la ONSL); but the fact that AMZN just took out a credit line might indicate no new offering money will be coming their way.

I'm also not too greedy. I have a limit cover around 40. I value AMZN in low 30s as well but hype has its value.
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