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 : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: Ricky Rydell who wrote (1591)	2/5/1999 3:20:00 PM
From: Howard Hoffman	Respond to of 7772

Ricky, Thanks for clarifying things. Now I understand why the chart on this stock is so bad. The stock is a sham. Because there are so many people joining eBay, they think "Wow, this is a great service. Peter Lynch said 'Buy companies that you like.'" Actually, I think Lynch said to look into companies you like, but don't buy them blindly. So, with a 10% float, and all these people having access to buy stock on the internet, they have bought these shares without regard to fundamentals at all. Which has caused the stock to rise dramatically. The game has succeeded better than the founders could have dreamed. So, they sold 10% of the company for $18/share. Now, they are selling the next shares at $200-$300, or whatever the market will bear. Brilliant. And now, some of the institutions feel a need to buy shares in the e-stocks, because most of them missed the boom. This baby is going back to 90!!!! Wish I had bought some out of the money March puts when EBAY had its fake move 2 days ago.