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

To: Glenn D. Rudolph who wrote (6266)	6/16/1998 7:54:00 PM
From: zebraspot	Read Replies (1) \| Respond to of 164684

File Under: Has The Amazon Roach Motel Lit The "No-Vacancy" Sign Yet? >> Dow Jones Newswires -- June 16, 1998 Amazon.com Up; Short-Covering, Investor Enthusiasm Cited By NICK WINGFIELD Dow Jones Newswires The Wall Street Journal Interactive Edition SAN FRANCISCO (Dow Jones)--Shares of Amazon.com Inc. (AMZN) were up 10% in afternoon trading Tuesday, continuing a two-day rally analysts attributed to a combination of short-covering and investor enthusiasm for the Internet merchant's new on-line music store. On Monday, shares of Amazon jumped 4 3/4, or 7.8%, to close at 65 3/4. Recently, the shares were up 6 3/8, or 9.7%, to 72 1/8. The company made its name selling books over the Internet, but last Thursday, it took the wraps off a slick new storefront where shoppers can pick from a catalogue of more than 100,000 compact discs. Analysts said the relatively limited supply of shares in Internet companies, including Amazon, could also be contributing to the spike in the merchant's stock. "There's just no float," said Henry Blodget, an analyst at CIBC Oppenheimer Corp. "The smallest demand can drive a stock four points."<< [Wow! But, come to think of it: what will a large supply do when it starts going down?] >>An Amazon spokeswoman said the company had made no announcement in the past two days that would be affecting its stock price. -Nick Wingfield; 201-938-5099<<