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

To: Glenn D. Rudolph who wrote (130961)	9/5/2001 2:27:59 PM
From: Glenn D. Rudolph	Respond to of 164684

+Amazon Sinks 19%, Hits Year Low; No Catalysts Seen >AMZN 09/05 11:54 AM (DJ) Story 4010 =DJ Amazon Down-2: Shares Reach Lowest Point Since March 98/32 By Maxwell Murphy Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Amazon.com (AMZN) shares fell as much as 20% to a 52 -week low Wednesday without any news, and amid a host of ongoing concerns, according to an analyst. "I haven't heard anything specific," said Scott Kessler, an analyst with Standard & Poor's. But there are several issues with the company, the retailing sector and the overall economy that might make it hard to be a buyer - or even a holder - of the former Internet high-flyer, Kessler said. "For lack of a better word," Amazon's a retailer, Kessler said, and looking at the "travails of the major retailers" of late, it might be hard for investors to get behind the online merchant. Plus, the fundamentals of this year's ongoing back-to-school season - typically a hefty boost to retailers' coffers - have been called into question, he added. One trader working with Amazon said the heavy volume Wednesday, especially that coming in the form of large block trades, suggested large holders might be liquidating positions. Other traders said they knew of no reason for the selloff, adding that much of the trading Wednesday was taking place on electronic trading networks. Amazon stock recently traded at $7.15, down $1.44, or 16.8%, on volume of 10.3 million shares. Average daily volume is 6.3 million. Shares fell to $6.85 in earlier trading Wednesday, a low not seen since early-March 1998. Of the shares traded, 3.8 million came in the form of block trades of more than 10,000 shares, which suggests the possibility of large holders selling. One-hundred and thirty-seven trades of 10,000 shares to 50,000 shares recently crossed the wire, while seven trades of 50,000 shares to 100,000 shares and six trades of more than 100,000 shares had taken place.