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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 232.71+0.2%9:30 AM EST

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To: Don Westermeyer who wrote (37457)1/28/1999 4:44:00 PM
From: Circle  Read Replies (1) of 164684
 
The idea behind the security was probably to sell implied volatility.

Buyers of the new security will short the common and write calls. They will short increasing numbers of shares if the stock moves higher.

Overall, this is a pretty arrogant move for a money-losing company with common that they could sell at valuations like these.
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