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

AMZN 232.38

+0.1%

Dec 24 12:59 PM EST

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To: slipnsip who wrote (7498)	6/25/1998 8:06:00 AM
From: tonyt	Read Replies (1) of 164684

>Can anyone remember exactly what sparked the sell off on PRST?? It was set off by the SEC investigation of C.Lutts, who writes a stock letter called 'Cabot'. It was alledged (I don't recall the outcome) that Lutts' son was selling PRST while Lutts was promoting it (I think he still does). Another significant event was that right as it peaked at 200, it was diclosed that management was making signifcant sales of PRST. Lutts also promoted short squeezes by telling his subscribers not to put their stock in a margin account. I think management also fueled this by putting their stock in margin, then after it was loaned out, moving it back to a cash account and forcing a buy-in.

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