*Lehman: Shorts will get killed again!
From Raging Bull AOL Chat:
"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.
--Simeon