"Don't you people understand sprint can only get a max amount for their shares and they have reached it. This has no bearing on current price they will not sell for months, and there will be as many buyers as seller. So enough with sprint."
Simeon's answer:"Here, here gc57, I agree with you 100%. I wish some of you would do some of your due diligence instead of ranting and raving about doomsday for AOL just because Sprint said they will sell their shares.
Well, if you look close at the following FORM S-3 that was filed with the SEC on 4/21/99, you'll notice all the details you "detail" freaks need to read. The paragraph states:
"The following stockholders own shares of common stock that are currently held in escrow under the terms of an Escrow Agreement dated November 9, 1998 between such stockholders and America Online. Such shares are being registered under the registration statement on Form S-3 filed in connection with this prospectus and are included in the amounts listed in the table above, but such shares may not be sold by the selling stockholders until the shares are released from the escrow, which is expected to be in November 1999: Arrow Investments - 20,980 shares,Ranger Investments - 16,800 shares, Softven No. 2 - 21,140 shares, Vulcan Ventures - 26,920 shares, Washington Post - 4,575 shares, Thomas Sammon - 6,536 shares, Bradley Scurlock - 6,536 shares, Robert Scurlock - 3,600 shares, and Stephen Tomlin - 5,604 shares."
November 1999 people!! READ IT carefully. Also, like any corporation big or small, the SEC needs to know when some of these people will be selling. They just can't dump their shares all at once and expect the market to view this as negative. If no one had to file, you would undoubtedly see panic 10 times worse then we saw on the 19th!
Furthermore, someone like Sprint back in 1993 had an agreement with AOL to receive shares in lieu of services they gave back to AOL. Now that it is 1999, they are just saying we would like to cash out and use this money for other expenses. Remember when AOL sold their shares of EXCITE recently????? Some of you remember that right?
Well, it's the same thing, AOL decided that since @Home was now a "partner" with EXCITE AOL felt it was time to sell and use those proceeds to help the company move forward. That's it. (PERIOD)
I would just wish for once, JUST ONCE that some of you would do some hard-core research into the company you are investing before flapping your lips about doom and gloom. It's totally ridiculous and it's people like you (you know who you are) that actually lose money because of all the PROPAGANDA you spread among yourselves.
To all AOL longtermers, (of course we KNOW WHO WE ARE) AOL will come out with good numbers this Tuesday and we are the last one to laugh when the "weak" hands decide to go somewhere else just because of "bad-no-backup-information-posts" they've read here.