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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 226.19-1.8%Dec 12 9:30 AM EST
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To: Sarmad Y. Hermiz who wrote (51183)4/18/1999 8:42:00 PM
From: Glenn D. Rudolph  Read Replies (1) of 164684
 
You'd think if 5 million shares were removed from the float and tucked away in
a fund, and then 10 million more traded, that the price would really zoom up. But it
didn't. In fact it dropped below the open a couple of times during the day.


I suspect there are a lot more shares in the float. Likely many of the covertible junk bond holders made a coversion and sold the shares. That would explain the reasonably small rise with an upgrde.

Glenn
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