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Technology Stocks : BAMM - BOOKs A Million (BAMM) .. the next Amazon.com ????
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To: Phillip C. Lee who wrote (437)12/5/1998 4:34:00 PM
From: Patrick Shen  Read Replies (1) of 1196
 
Why do all the hypers keep comparing BAMM to AMZN? AMZN is an Internet company, dominates the online bookselling market and has very high growth. If you want to compare BAMM with other companies, compare it with Barnes & Noble (BKS), they have similar business model.

BKS was a $20 stock before it launched its web site. They are successful in both the retail business and the internet. They spent a lot of money and effort to market their site. The current stock price: $29 7/8.

BAMM was a $3 1/2 stock before the news release of the redesigned web site. They were doing poorly in their retail business and their stock went from $6 to $3. No one knows about their web site because they don't do any marketing. The management clearly do not understand e-commerce. The current stock price: $13 5/8.

Do you own calculation.

As for the trading pattern, how many longs are actual investors instead of traders? There are investors who bought this stock because they believe BAMM may be the next AMZN, but most of the buyers are traders and momentum players. Look at last several days of action, there are a lot of traders selling.

MMs accumulated a lot of shares on Nov. 25 and the morning of Nov. 27, just look at that volume. They started selling on Nov. 27 and I believe sold all their shares by Wednesday morning. Then they went short and they would not cover until it reaches the bottom. As the price goes lower, traders WILL sell even if it means a lose.
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