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

To: Frank Ellis Morris who wrote (8618)	7/2/1998 6:20:00 PM
From: Peter V	Read Replies (2) \| Respond to of 164684

<<why this stock is on such a tear? What are we all missing? I know they sell books and CD's but so what?>> Frank, if I knew, I'd be rich instead of crying in my very badly priced put options right now. AMZN has become nothing more than a "trading vehicle." Speculators have rallied around the stock, and it has made them tons of money. Until they let go, it will continue to rise. Originally, interest in this stock was based on a concept that the Internet will be huge, and will replace television, newspapers, etc. But why Amazon, you ask? After all, they are not the internet, they just sell over the internet. Every bear on this thread has asked that question about a thousand times, and none of us has the answer. The bulls say Amazon will be a major internet player, and its valuation will allow it to partner up with other big players, and it will be huge. IMO, there is NFW anyone will buy Amazon at these ridiculous prices, but maybe a partner will come along to add some value. Even so, Amazon can't take advantage of its stock price unless it either issues more stock or sells some of the stock it has retained. Either SHOULD be detrimental to the stock price, but who knows, this stock has not traded sensibly for nearly a year. Don't discuss valuation, it has no meaning to those buying the stock right now. Not until the stock starts downward in earnest will valuation discussions become relevant. Right now it is all speculation, and I'd have to speculate as to where I think it will stop. I have no idea.