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: purecntry5 who wrote (3678)	12/5/1997 6:22:00 PM
From: Bill Wexler	Read Replies (3) of 27307

<<YHOO to 70!>> Hmmm. That would put it in the same market cap/ballpark as Iomega. How appropriate. Seriously....I would give my right arm to be able to short this thing at 70. Unfortunately, I don't believe you're ever going to see it. Despite my rantings to the contrary, I've been shorting more all day today. There is absolutely no doubt that Yahoo will trade significantly below these levels, the only question is when. I believe we are now at the top or nearing the top of another short squeeze. Someone is holding on to $56 shares with about 90 cents a share in sales and nil earnings. My guess is they're going to dump them real soon. Remember, despite the relatively high number of shares short - the days to cover (a much more important metric) stands at about 3.5. I think that 70 - 90% of the volume generated today was artificial (i.e. inter market-maker trades). Most of the buying had the feel of short covering, and it was mostly small blocks. I'll throw in my short term prediction. Since everyone seems to agree that the market is heading higher through Christmas and that Yahoo is heading higher...I'll take the contrarian stance. I'll bet that Yahoo will close down at least 3 on Monday. I'll also bet that Yahoo trades below 35 by mid February.

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