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Technology Stocks : AUTOHOME, Inc
ATHM 24.25+1.6%Dec 12 9:30 AM EST
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To: Boplicity who wrote (6717)3/24/1999 8:54:00 PM
From: VIXandMore  Read Replies (1) of 29970
 
The evolution of a thread is always the technical minded find out first, you get a pop from the early savvy investors, then comes the realization that it will take longer then you thought and more money to build this wonderful idea into a real company, or the technology needs work, you might get a pop out the price when they start doing trials or do some deals. Then the stock will sit. Then come the investors like me and Rocketman ...

In reading your post it suddenly occurred to me that there is something akin to a (Geoffrey Moore) "Crossing the Chasm" that stocks go through that is analogous to technology products, as their investor base shifts from early adopters to the mainstream. The reasons for buying are probably different too. Early adopters buy based on a firsthand appreciation of the technical upside; the mainstream buys based on what is spooned out to them via the likes of Steve Harmon, Red Herring, chat board gurus, etc. It makes sense that the early adopters who bought ATHM at 35 might have disdain for those who arrive to the party 100 points later as the result of hype and momentum (or "inertia" if you must). Still, without the mainstream buyer, we'd have to live with only average or above average appreciation.
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