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

To: Bill Harmond who wrote (16218)	9/5/1998 4:29:00 PM
From: Craig Richards	Read Replies (2) \| Respond to of 164684

Plugged in, by Eric Savitz (http://interactive.wsj.com/articles/SB904949829488922500.htm) also talks about Amazon: Amazon.com shares plunged from 131 to 78 over a nasty five-session stretch, before bouncing back to close last week at 86 1/4 . Prior to the plunge, insiders were selling. On August 10, a day on which Amazon closed north of 121, Amazon director Tom Alberg filed with the SEC to sell 30,000 shares; Joy Covey, CFO, filed to sell 25,000; and Joel Speigel, vice president-engineering, filed to sell 15,000. August 26, with the stock at 127 1/4, the company's chief information officer, Richard Dalzell, filed to sell 25,000 shares. One day later, with the stock at 119, Amazon director Patricia Stonesifer filed to sell 24,000. Jonathan Cohen, Internet analyst at Merrill Lynch, last week issued a less-than-bullish short-term "reduce" rating on Amazon.com. Cohen contends that, while the company has solid management, book-selling is a low-margin business, whether via stores or over the 'Net. The stock's market cap, he notes, remains greater than all the profits generated by every company in the publishing and book retailing businesses in 1997 combined. He thinks the stock is worth under $50 a share. David Rocker, a New York-based hedge-fund manager, advises shorting Amazon's stock and buying its junk bonds. Earlier this year, Amazon raised $325 million selling senior-discount notes due 2008. The bonds, which pay no interest for five years, were priced at 61.507, to yield 10%. While the bonds barely budged as the stock soared earlier in the year, they've weakened lately. Last week, they were being offered at 50, with no bidders in sight. At that price, the yield stands at a hefty 12.9%.

To: Bill Harmond who wrote (16218)	9/5/1998 5:16:00 PM
From: wiley murray	Read Replies (1) \| Respond to of 164684

William:Thanks for the Barrons reference. Do you think it will impact AMZN on Tuesday?

To: Bill Harmond who wrote (16218)	9/5/1998 5:25:00 PM
From: Gary Metzer	Respond to of 164684

William et al, re: If you don't subscribe to the WSJ/Barrons, it's a deal at $49 per year. ...AND the above also includes Smart Money Interactive which is also a pretty good site with a really good portfolio tracker. In addition, IF you are a subscriber to ANY of the three paper versions of the above, the annual subscription is only $29/year for all three. This has got to be about the best deal on the internet. Gary

To: Bill Harmond who wrote (16218)	9/6/1998 4:25:00 AM
From: IMPRISTlNE	Read Replies (2) \| Respond to of 164684

It's an in article about short-seller David Tice, who thinks that Amazon should sell under $10: yeah, and David Tice is shorting Intel to the 40's....does this guy have a poverty complex? Message 5678252

To: Bill Harmond who wrote (16218)	9/6/1998 11:24:00 AM
From: Glenn D. Rudolph	Respond to of 164684

It's an in article about short-seller David Tice, who thinks that Amazon should sell under $10: William, I had to take that article with a grain of salt. Many of the stocks David Tice was advocating as shorts, were well established and not over priced companys in my opinion. The example that hit me the most was INTC. Glenn

To: Bill Harmond who wrote (16218)	9/6/1998 1:29:00 PM
From: H James Morris	Respond to of 164684

For those who don't subscribe, <No jaundiced survey would be complete without an Internet stock, and Tice's favorite short there is Amazon.com. The Seattle-based vendor of books and records is a great company, says Tice, that is missing just one element: "profits." With a paper fortune in the billions, Amazon founder Jeff Bezos may not even have a proper profit motive, says Tice. Accumulated losses in Amazon's business increased sevenfold in the 15 months ended in June, reaching $64 million. Investors must have been thrilled, because over the same period, Amazon.com's stock-market capitalization increased tenfold, or $4 billion. Recently, the company announced that it won't make money in '99, either. Tice thinks the company will be only marginally profitable, if indeed it ever has any earnings at all. Barriers to entry on the Internet are minuscule, he points out, and so is consumer loyalty. Tice notes that Web sites called 'bots allow shoppers to find the very cheapest online seller of any book or record: "This ensures that new booksellers have the opportunity to cut prices and make life miserable for everybody else." At a recent price of 86, Amazon.com shares are cheaper than they were at 147. But they're still selling at 9 times the company's annualized per-share revenues. When investors sober up, Tice believes the stock should sell for under $10.