Have you seen the article in Barron's on AMZN this week? Wow, Alan Abelson makes me look like a lover of the stock! I have never seen such a thorough bashing and picking apart of a worthless company done so vehemently by Barron's before.......you would have thought I wrote that article...for all you know they just copied my posts!.......;^)
A few juicy quotes from page 4, Alan Abelson column.........
" Amazon has minuscule book value- the stock is now selling at well over 60 times book value. And it is completely unburdened by earnings and in no apparent danger ( at least for this decade, anyway) of showing a profit."
and this one.....
"As with America Online and Yahoo!, moreover, Amazon is a favorite of the strange creatures who haunt the chattery precincts of the Web where stocks are touted. We don't mean to be too hard on those designated touting outlets; if nothing else they keep the many spooky souls who frequent them occupied and off the streets."
....sounds like Barron's doesn't think much of the MF and other chat rooms like it......
and finally this one....
" What continues to nag us about Amazon, apart from the absurdity of its valuation and its failure so far to show a profit, is competition. Part of the reason for the company's rapid growth is that it was first out of the gate and, for awhile, had the field all to itself. Then Barnes and Noble weighed in. And Borders is poised to take the plunge as well.
Last week, moreover, another heavyweight. Bertelsmann AG, the conglomerate out of Germany, unveiled plans to launch an online operation, tentatively dubbed Books Online. Bertelsmann comes to the fray with some big guns: lots of dough, considerable smarts about book retailing in this country, a database of 35 million active book and music club members in the U.S., Canada and Europe and a huge global network of warehouses."
I think he plagarized most of my posts! He did forget to mention all the insider selling though....that you got exclusive from candle stick......I bought March 70 and 75 puts on Friday for the correction next week....think we retest the break at 66 right away, after this negative press....good luck....;^) |
