Enjoying the action in RMBS?

Quote from hardrightedge:
I don't have a position in the stock, but people I know who have done their homework believe the court decision is worth a lot of money. The emphasis on -a lot-
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"No one on The Street knows whether Merrill Lynch fired Jonathan Cohen--who, around the time Henry Blodget made his famous call (12/98), said Amazon was overvalued at $240 and gave it a $50 target--in order to make room for his younger rival. But it sure looks that way. "Merrill got egg on their face, and Jonathan was the reason," says one industry player. "Hiring Blodget made them look smart."
Do you all remember Henry Blodget's call that Amazon was worth over $400 a share and despite the fact the valuation looked exceedingly high it would grow into the valuation through acquisitions and eventual increased revenues? On Jan-08-99 Amazon's high of the day was 199.12 after a 3 for 1 stock split 3 days earlier on Jan 5. So in essence the stock was selling for approximately $600 a share. But at some point someone points out the Emperor has no clothes. In Amazon's case it was Barron's who wrote a cover story questioning Amazon's valuation.
It's all interesting. What is a realistic valuation for RMBS now? Couldn't tell you. I guess it depends on how the legal aspects play out going forward. And who knows how that will go? Of course it doesn't mean you can't trade it in the meantime. I know people who started shorting this at $10 on Wednesday and of course someone will buy this as it's peak. If you bought AMZN at the eqivalent of $600 you lost big obviously but so did the people who shorted it at $50 before the splits on it's way up. Just be careful and don't be the one left standing in the game of musical chairs. :)
 
I'm not touching it with a ten foot pole, personally. I just have a funny feeling that it has more upside before it pulls back to a reasonable level.
 
Just an interesting fact...the total float for Rambus is 80 million shares, and 70 million shares were traded last week...

Is this really what is was like during the bubble days?
 
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