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

AMZN 233.95

+0.3%

Dec 1 3:59 PM EST

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To: SilverAG who wrote (23173)	10/27/1998 2:12:00 AM
From: OtherChap	Read Replies (1) of 164684

Charles, you make good points. Upon further thought, I can't imagine any circumstance where Bezos would try to pull a stunt like this- and the only way to rationalize the fact that "this" was filed today HAS to be that the SEC slapped them down- if you'll recall I predicted the SEC might do such a thing, about a month ago. If the SEC forced them to do it, I can understand being forced to amortize the acquisition, but what about the 1997 restatement of earnings? That's the part that really gets me- it'll allow Bezos to crow about how this quarter is Soooooo much better than the same quarter last year.. Tomorrow should be interesting- perhaps the media will pick up on this restatement? After all, it took until the day Excite reported earnings for the media to catch on to them.. In any case, this spells bad news for Amazon, and I'll probably go short tomorrow. I'm expecting a gap up (mainly because AMZN has done so for the last 11 days) but it should provide a good shorting opportunity. Even analysts can't usually find good things to say on CNBC when companies they recommend as strong buys suddenly have to eat crow and restate results..

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