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

To: wiley murray who wrote (16006)	9/3/1998 5:44:00 PM
From: Rob S.	Read Replies (3) \| Respond to of 164684

It could very well break below 80 if the market corrects further. But I think that would need to be another 300-400 point single-day drop to spook investors out of it. It showed a pretty good support level today despite the negatives in the market and inet stocks. "What will continue to hold this stock up" . . . that is something we have been debating on this thread for some time. The price is obviously based on future outlook rather than current size and profits of the company. Enough people are being drawn to the internet who think it has great prospects. I think a lot of these investors (and many anals) don't know much about the stock or the industry but know that the "internet is the place to be" so they will keep on recommending and buying it based on their hopes three or five years out. If you invest in Amazon or short it you need to take this into account. One question to ask is "are more investors being attracted to invest into internet stocks?" rather than the basic questions of what the "value" of the stock is based on any common measure. Ultimately the value is whatever someone is willing to pay for it.