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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 246.42-0.4%3:59 PM EST
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To: George Gotch who wrote (48383)3/31/1999 4:58:00 PM
From: KeepItSimple  Read Replies (3) of 164684
 
>undercutting at a loss of promises of insider stock riches.

Which is the fundamental force which drives this market today. Insiders know that in order to become set for life, they simply have to get their stock price high enough, and long enough, for them to cash out.

And since none of them have any clue how to generate a profit, the next best thing is to show huge revenues. How do they do this? Burn money on advertising and below-cost pricing. What do they care? They never intended to run a profitable business in the first place.

If these were real companies, where big execs and shareholders made profits only as a percentage of the company's profits, there would not be a single internet millionaire out there. Well, outside of Cisco, Dell, Microsoft, and Intel. Scary thought when you're paying 600 bucks a share for Amazon, I know. But it will eventually come back to earth. :)

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