Sotheby's (BID) Auction House Message Board

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Non-Tech : Sotheby's (BID) Auction House

BID 56.99

0.0%

Oct 14 5:00 PM EST

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To: Paul Kern who wrote (52)	11/30/1998 11:12:00 AM
From: Geoff	Read Replies (2) of 236

I am not sure if the work here is Internet hypesters or what... but CNBC mentioned that the run up could be due to takeover talk. BID declined to comment on an inquiry by the NYSE re: its recent stock movement. There is talk on Yahoo of BID going onto the net... who knows? I do know that there was a heck of a lot of short interest a few weeks ago, which helped push BID back into the high teens. Perhaps the shorts are getting squeezed? They were betting that Baron, who controls so much of the stock now, would begin to sell off a little. He responded about a week and a half ago by increasing his stake. Perhaps that helped the stock recover to the low 20s, and then the shorts decided to cut and run. Maybe? btw, good sale. I've decided to hold to see what the hell is going on here. geoff

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