7/27/98 AMZN PIG SLAUGHTER UPDATE (c) zaxbowow
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'Elsewhere'
As of June, Vinik Asset Management, Jeff's new outfit, held half a million shares, and Vinik was
reportedly buying more in early September. Perhaps to disguise his activity, Vinik spread
his orders around, buying through Goldman, Sachs, Montgomery Securities and Volpe Welty. His buying
does two things: helps push up the price of the stock and makes the short-sellers sweat.
Suddenly, in mid-September, Yahoo! took a tumble, dropping from 52 to the mid-40s, shedding some
$400 million in market value before recovering some ground days later. If this means the shorts have
already been squeezed out, Vinik may have decided to take his money elsewhere. We don't know.
Vinik Asset Management, as is its custom, would not comment on its portfolio activity.
Source: Forbes, October 6, 1997
forbes.com
And NOW for today's numbers:
>CBSM 07/27 10:25 [AMZN] AMAZON.COM SINKS 6%, JP TURNER STARTS STOCK AT SELL.
I--------------------------------------------------------------------------------------I
I I
I Close 7/27/98 For Last Reported Year I
I TICK MARKET CAP REVENUE NET INCOME EPS URL I
I ==== ============== ======= ========== ==== === I
I AMZN $6,230,952,000 $ 147M $(27.59)M (0.64) amazon.com I
I I
I BKS $2,768,106,688 $2,796M $53.16M 0.79 barnesandnoble.com I
I BGP $2,519,408,500 $2,266M $80.19M 1.06 borders.com I
I I
I KTEL $78,310,000 $ 75M $ 3.2M 0.41 ktel.com I
I I
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______s__
/ \ Editor's Note:
( { @ @ )
| * \ Despite the fact that the author of Friday's 'Post of the
|__ '---' | day' on TMF indicated that he thought the AMZN TANKWATCH,
, / \________,/\ boards.fool.com
, || / . ( . . ) | of that day deserved this billing, we wish to say that
<[||II' ( -+- | / _ we have absolutely no hard feelings about this. Honestly.
\____,__/\________o__/\\ < >ooo
| ___ ,--*-- ~~~) And a special "shout out" goes to our new reader from RDNS
\ / \ ; . / 208-216-180-101.amazon.com who just loves to surf the
~~~~~-+ +--'--^--'-+~~~ stock talk pages on Saturday. Anyone care to speculate
> * < who this might be? Careful... web surfing can lower a
| / company's Burn Rate.
>' )
/... /
ooo<_>
Odds and Ends: Miscellany on one Mr. Jeffrey Vinik
-----
Source: pacificserv.com
Institutions owning more than 100,000 shares of Iomega as of 6/97 From the 13F filings
as of June 1997.
Listed: Name, Change, Total Owned
Vinik Asset Management 936,300 936,300
------
Source: Money (Daily)
pathfinder.com
Re: Vinik's departure from the Magellan Fund
There is no indication that Vinik was forced out of his job, despite the fund's poor performance
over the past six months and a widely reported -- but unconfirmed -- investigation by the
Securities and Exchange Commission into his trading practices.
|
