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

To: Gary Korn who wrote (5983)	6/14/1998 12:45:00 PM
From: Glenn D. Rudolph	Respond to of 164684

K-Tel Shares Up Again On Apparent Excitement Over Internet Selling JUN 12,1998 NEW YORK -(Dow Jones)- K-Tel International Inc. shares continue to get a boost from the Internet craze, rising sharply Friday after jumping nearly 50% Thursday. The stock has soared since a major on-line retailer, Amazon.com Inc. (AMZN), opened a storefront on the Web packed with 100,000 music titles. Amazon's music plans, combined with investor interest in Internet stocks, sent K-Tel as high as $39.469 last month. Friday, K-Tel's Nasdaq-listed shares added another $1.50, or 11%, to close at $15.25. Volume totaled nearly 9.6 million shares, compared with average daily turnover of about 4.6 million shares. The move by Amazon.com boosted that company's shares significantly and spotlighted the on-line music market, which K-Tel said it would enter earlier this year. K-Tel is known for its telemarketing sales of cassettes and compact disks, Short interest, however, has been building in the stock since then. According to one trader, Friday's gains were fueled by short sellers, who struggled to cover their positions as the stock climbed. Participants in several popular Internet message boards and chat rooms complained that shares of K-Tel were currently unavailable to short. Steve Goldman, head trader for Yamner & Co. considers K-Tel a volatile investment that owes its previous gains to the interest of speculative traders and market gamblers. "I don't think you will find a mutual fund that has bought a share of this," Goldman said. -Joelle Tessler (201)938-5285 Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.