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


To: Jay8088 who wrote (19939)10/4/1998 7:29:00 PM
From: OtherChap  Read Replies (1) | Respond to of 164684
 
>Could it be that Morgan Stanley had more AMZN's corporate money to >'play' with in its market making function?

Since AMZN refuses to reveal who bought that junk bond debt, the easiest way to find out who bought it is to look at which brokerage houses quickly raised their rating to "strong buy". However, I do not know the exact date the junk was floated, I'm sure Glenn would though!



To: Jay8088 who wrote (19939)10/4/1998 8:12:00 PM
From: Bill Harmond  Read Replies (2) | Respond to of 164684
 
>>I just can't buy that the junk bond money meant so much to the company's fundamental as to triple stock price in 2 months.

I think that run had more to do with Amazon signalling that it was (broadening out from just books by) entering the recorded music business.



To: Jay8088 who wrote (19939)10/4/1998 8:57:00 PM
From: Jan Crawley  Read Replies (1) | Respond to of 164684
 
I just can't buy that the junk bond money meant so much to the
company's fundamental as to triple stock price in 2 months.


Jay,

It was pure short-squeeze. On June 1, 98,

Total Amzn shares(float) - 10 million shares
Total short interests, - 8.7 million shares.
18.7 million tickets were sold against 10 million seats

Vinik and others started the short-squeeze....

p.s. JMHO, but the numbers(float, short-interests) are factual.