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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: Smart Investor who wrote (16081)12/18/1998 5:33:00 PM
From: Randy Ellingson  Read Replies (1) of 27307
 
Let us hope that YHOO will make $0.25 per share or more. Otherwise, it will be ugly. The run-up in the last couple of days for AMZN and YHOO is mainly due to the irresponsible comment by the CIBC Oppenheimer "analyst" Henry Blodget. I hope some class action lawyers pay attention to this one. It is time that some mechanisms or law suits to force the so called analysts to be more honest and do their job rather than hyping stocks like some guys on the Net. I think people who listened to Mr. Henry Blodget and bought AMZN or YHOO based on his hype have legitimate reason to sue him and CIBC if they lose a lot of money when this stock crashes. It will be the new gold mine for class action lawyers.

Just to be sure you know what you are talking about, this $400 price target for AMZN represented a 65% increase in the stock's value (vs. ~$242 at which it had closed the day of the target announcement), and I think it was a target for sometime during the year 2000. Someone correct me if I am wrong. That's about 28.5% annualized return, hardly a big deal. Kind of like saying that ATHM will be at 112 sometime in the year 2000. I realize they are different companies, but the price target is not a big deal. And I bet Henry B. believes it is reasonable.

Randy
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