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Strategies & Market Trends : Roger's 1998 Short Picks
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To: ralph keating who wrote (11204)7/8/1998 4:57:00 PM
From: Roger A. Babb  Read Replies (2) of 18691
 
Ralph, as I have been predicting YHOO (soon to be followed by AMZN) is trying to bring some cash into the house by selling more stock and "cash in" the high stock prices. YHOO sold over 1 million shares in a private placement at $183 per share. We can expect a lot of new shares and released insider shares to start showing up for the internet stocks now, just like the y2k stocks did last year. The insiders will want to convert those paper profits into cash quickly now.
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