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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (11690)	7/18/1998 1:42:00 PM
From: poodle	Respond to of 18691

John, thank you for interesting link. Can you (or anyone else) clear one small problem for me. "Consider Amazon.com Inc., the Internet book retailer. This company went public in an IPO just 14 months ago, in May 1997, selling three million shares of stock to the public at $18 per share. But company insiders already held more than 20 million unregistered shares, options, and warrants at the time of the IPO, creating total shares outstanding of more than 23 million. Early in June of this year, Amazon declared a 2-for-1 stock split, creating more than 46 million shares out of the initial 23 million. But of that 46 million, only about six million (the three million from the IPO, now doubled via the 2-for-1 stock split) are actually being traded in the market. " If AMZN sold 3M shares during IPO, after 2 for 1 split 3X2=6M Before June 144 Forms for about 1.6 M shares were filed. 1.6X2=3.2 6+3.2=6 ? Did I miss something? BTW, it was long cry about short position being larger than float (8M vs 6M), which is hardly legal.