Wow, if he held on to that short, his short share count would be 24,000 shares (after a 2-for-1 and a 3-for-1 and a 2-for-1 stock split) and be down about $30/share. He lost $720k on a sure thing. His Mercedes Benz is made by HotWheels.
My guess is that he now drives a Pinto.
by: fredboy 12/09/97 09:32 am
Msg: 18 of 524536
I'm short 2000 shares of this puppy at $54. I plan on buying a new MB E-320 before June 1998 from this play. I may reinvest the balance in Tulip Bulbs!!
Now I see why you are so down on AMZN, you are shorting it. You sound so emotional about this one. Generally, I advise
clients to be very careful when they invest emotionally. have you ever thought of shorting Coke or let me guess, you are currently
long that one. Well, I ll tell you what. Owning AMZN is most certainly speculative, but , based on fundamentals and growth rates,
shorting it is absolutely speculative. You are shorting a company that you havent even experienced. Good Luck !!!!
I'm actually long alot of stocks,ie JNJ,GE,XON,ABT,AHP,BA,BUD,FO
and even GOLD!!!
However, I can't help shorting once in awhile. I especially like these young people touting some tech stocks at 50+ PE ratios that have never been through a bear market. I'm not talking a 10% correction market, I'm talking a throw your guts up BEAR market,ie 1973-4.I always short with 100% cash so I can relax an wait. ALL GOOD THINGS COME TO HE WHO WAITS!
I agree with everyone's analysis here about the stock being overhyped. AMZN is what irrational exhuberance is all about. I want to go short on AMZN too -- how much was it to short 2000 shares at $54??