RAMBUS: Time to Short RMBS? Message Board

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Technology Stocks : RAMBUS: Time to Short RMBS?

RMBS 105.71

+2.8%

Nov 3 3:59 PM EST

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To: John Wallner who wrote (11)	9/11/1997 3:23:00 PM
From: P.T.Burnem	of 58

John, I also been following some of Morgan Stanley's high-flying high-tech IPOs. I have noticed that right before the end of a lock-out period (such as the end of the 180-day lockout period for insider selling), a "road show" is sometimes put together to bolster the stock in anticipation of diluting the float. This sometimes leads to a peak in price before the end of the lockout, followed by a drop in price when the lockout terminates. You were absolutely right. Today RMBS is down sharply due to the release of some $1M shares from the lock up. RMBS has $22.3M shares outstanding and a meager $3.2M ($4.2M as of today?) float. Another word, RMBS insiders are sitting on some $1B in unrealized - and rapidly dwindling - gains. I almost feel their pain ... PTB

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