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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (111205)	10/25/2000 6:13:24 PM
From: H James Morris	Respond to of 164687

>BTW, Lehman put out an "avoid" on Scamazon bonds today: Maybe you missed this. So I'll post it one more time. > NEW YORK, Oct 22 (Reuters) - The bonds of Internet retailer Amazon.com Inc. <AMZN.O> are priced to reflect the high potential for default, according to the "Up & Down Wall Street" column in the Oct. 23 edition of Barron's. Amazon has about $2 billion in corporate debt and some of its bonds trade at a price that suggests there is a 54-percent chance the company could "go belly-up," the financial weekly said, quoting a report from Bridgewater Associates, which invests in bonds and currencies. Amazon's nonconvertible obligations due in 2008 are trading at around 50 cents on the dollar, Barron's said. It cited Bridgewater as noting that while the bonds reflect a high potential for default, the company still has a market capitalization of $10 billion. "The debt markets are pricing in significantly high probabilities of default, while the equity markets show little concern," Barron's quoted Bridgewater as saying. Shares of Seattle-based Amazon closed up $3-1/16 at $30-13/16 in Friday trading on the Nasdaq, well below their 52-week high of $113. Amazon shares were off more than 55 percent since the end of last year. 13:14 10-22-00