Amazon.com, Inc. (AMZN) Message Board

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

AMZN 227.35

+0.3%

Dec 19 9:30 AM EST

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To: Skeeter Bug who wrote (17289)	9/16/1998 1:31:00 AM
From: OtherChap	Read Replies (4) of 164684

Just released- Amazon has a NEGATIVE book value. Wonder how this relavation will affect the stock price tomorrow? Plus the inevitable earnings warning they will HAVE to issue in the next few days, since every analyst suddenly "magically and silently" doubled their loss estimates for AMZN last week. Hot off the presses from MSNBC in a story about junk bonds: ********************* In this universe of shaky businesses, Amazon.com has a special problem. Though its balance sheet showed shareholder equity (the excess of assets over liabilities) of $39.4 million as of June 30th, the company's tangible net worth - which is all that fixed income investors really care about (shareholder equity minus goodwill and purchased intangibles) - is actually a negative $13 million. ********************* My comment- GOD BLESS AMERICA.. Where else can an ex-hedge fund manager run a company that has assets of -$13 million, has never earned a dime of profit, yet commands a market cap of 7 billion dollars? (oops, 3 1/2 billion now) If I can't be a part of this charade as an insider, at least I can make a fortune when their stock drops through the floor! This fiasco ranks behind only BRE-X and BOST and PRESTEK in my opinion. (well, bre-x is similar mainly because of the amount of shareholder equity that was lost in a remarkably short period of time)

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