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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 222.32

-1.7%

1:28 PM EST

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To: Mark Myword who wrote (4983)	6/3/1998 10:23:00 PM
From: marion (Hijacked)	Read Replies (1) of 164684

From CNET: <<Online music retailer CDnow today said it is terminating its proposed secondary stock offering, one of the most tangible signs yet of waning confidence in high-flying Net stocks. Like most other Net companies, CDnow--a leader in the burgeoning online music business that went public only four months ago--is a money-loser. But that hasn't stopped a slew of Net companies from filing for secondary stock offerings, and many of them have been successful. One example: online travel company Preview Travel. CDnow's secondary offering, however, never made it out of the gate. "We felt that the recent decline in the market for Internet stocks made our pursuit of the offering undesirable," said CDnow chief executive Jason Olim. "In light of the company's current capital resources and liquidity, the completion of the offering at this time was not required." >> news.com

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