Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: llamaphlegm who wrote (9388)	7/8/1998 9:26:00 AM
From: Alan Newman	Read Replies (2) \| Respond to of 164684

From Briefing.com: 09:15 ET****** AMAZON.COM INC. (AMZN) 122 1/8 CLOSED. Shares of Internet stocks could come under some additional selling pressure this morning if the trend that has allowed many of these issues to levitate together remains in place. This morning, NB Montgomery Securities downgraded this online book and music retailer from "buy" to "hold" based on valuation. Imaging, Montgomery thinks that Amazon.com is pricy at current levels given the enormous price run-up so far this year. If this is the case, then so are many other Internet stocks that have risen faster than people can blink on the view that these issues will be either the winning stocks in the new millennium or will be taken over by winning companies. To be sure, betting against the rising price trend in this sector has been very hazardous to your health and wallet, but all good things do come to an end and eventually, some of the hot money that has been invested in Internet stocks will quickly depart for others areas and leave many actual investors holding the bag. This morning's downgrade could be the start of a much needed correction in the Internet sector, although not all of the hot air will quickly depart, as some investors continue to bet that some of these fast-rising Internet stocks will soon announce a stock-split. Hence, expects Amazon.com to decline this morning as currently on Instinet it is quoted as low as $110, and for this dip in price to prompt other high-fliers to trade lower on sympathy.