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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (21597)	6/13/1999 1:03:00 AM
From: Zoltan!	Respond to of 41369

AOL is not the internet. AOL is the anti-internet.

To: ChinuSFO who wrote (21597)	6/14/1999 3:18:00 PM
From: Zoltan!	Respond to of 41369

Barron's June 14, 1999 .....America Online, the bellwether 'Net issue, took it on the chin, however, falling 18 1/2, to 99 1/2, hurt by comments from Merrill Lynch Internet analyst Henry Blodget that current-quarter subscriber growth may be at the low end of management guidance. For most companies, such a miss might not be a big deal, but AOL is vulnerable to any sort of disappointment, given that it regularly has beaten its own guidance and because it trades at 300 times projected profits in its fiscal year ending June 30. Blodget added that he does "not see any major catalysts for AOL's stock until the fall." AOL's drop from its early-April high of 175 1/2 shows how momentum investing works in reverse. There was no bigger momentum stock this winter than AOL. The company also attracted significant buying from traditional money managers who felt they needed some 'Net exposure. It's not surprising that while all the new money was paying any price for AOL during the first quarter, established holders like Fidelity, Legg Mason and Janus were selling sizable amounts of stock. Fidelity dumped 26 million of its 60 million shares in the period. interactive.wsj.com