since EWBX (earthweb) will be going public tomorrow (11-11-98) i think its time we give it its own thread. the ipo is said to have gone off in the 12-16 range and i expect it to hit 20 on its first day of trading. right now the internet sector is at an all time high and recent ipos linke INKT (inktomi) have already gone up 10x fold from their initial offering. EWBX is the leading supplier of technical information to IT professionals and they have the support of such companies as cisco and lucent. furthermore they have their own online publishing company and bookstore. their fundamentals are very solid for the internet sector. and the are being taken public by JP morgan. considering that you can't short an ipo for the first 30 days as well as the fact that most ipo holders are strong hands (if you can get your hands on an ipo like this then you dont need to flip for a few pints) i expect a solid first month of trading. one more thing; I was told by my broker (Merrill) that i had no chance of getting any intial shares. i have also heard this stock mentioned on CNBC. my analysis is we will see a good first day of trading with the possibility of a tremendous day if cnbc and/or the various daytrader groups try to get in on this. good luck all.
regards,
bazooka |
