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Technology Stocks : IMON - Quoted from Barron's Corporate Reports
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To: CountofMoneyCristo who wrote (338)1/17/1999 8:00:00 PM
From: Louis Cornell  Read Replies (1) of 2220
 
There are shorts, and there are scared shorts. I think we're seeing the latter here.

Legit shorts don't have to bash stocks on this or other threads, since they know that the market will turn an overvalued stock down when the demand/outlook changes, usually after a very long runup, not one day. They don't post numerous messages in succession, and imply that companies are scams! Why anyone would be so foolish to short a $6 stock is a mystery to me, but I can imagine if MMs were caught short and need to cover quickly on Tuesday.

Anyone who visits the company's web site can download and try the current software free. I understand the new beta is expected to be available sometime Monday night. Yes, the current version is slow, but this company is just emerging from developmental stage and this software is said to be ahead of the current chip and bandwidth technology. It has three products to generate revenue. The simple truth is people are speculating on the potential for these products, and more importantly the technology underlying it and what it means for the internet.

Everyone knows internet stocks are speculative and valuing them based on historic measures is futile, not to mention downright dangerous if you short them.

This stock did not trade 23 million shares and go from under $2 to almost $6 because of a few daytraders. Look at the technology and what it means to the internet. Maybe then we can have a rational discussion of the merits of the technology. I will note for the thread that the last time I attempted to discuss the particulars, I was bashed for doing so. I hope that changes.
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