Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: purecntry5 who wrote (848)	5/14/1998 4:25:00 PM
From: Bill Wexler	Read Replies (2) of 4634

I believe that ATHM is pulling a NXTL. Investors are betting that ATHM has some unique internet franchise over cable. I'm betting that they will be sorely disappointed. Having said that, I am amazed that the stock is trading at its current level. In retrospect, it was absurdly priced at 20 a share - but in this market, why couldn't it trade at 40, 60 or 80 a share? I recommended hedging ATHM with options when it started to crawl in the low 30s. This strategy has saved me from a nasty loss (I've been selling puts against my short position), but I am still upside down.

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