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Non-Tech : Bill Wexler's Dog Pound
REFR 1.918-1.2%3:59 PM EST
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To: Mama Bear who wrote (2121)7/14/1999 8:26:00 AM
From: DanZ  Read Replies (1) of 10293
 
<the primary purpose of some companies is to sell stock to the public. It matters little what business these companies claim to be in, or if they have a 'real' product that produces some nominal revenue.>

I agree with this completely and would classify some companies that do this as a scam. I also consider many Internet IPOs a scam, when the underwriters clearly could have sold stock for a much higher price, or sold less shares and raised the same amount of money. In some cases, the intentionally set the price low to the benefit of those who owned the stock prior to going public, and to the detriment of shareholders after going public.

GUMM hasn't sold stock to the public since its initial IPO and clearly doesn't fall into the category described here. I asked Bill why he thinks GumTech is promoting their stock and he hasn't answered with anything more than a one liner.
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