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Mike...You would have to know who the underwriters were, have an account with them, and presumably be a preferred client (very VERY large balance) and then you might get some. In other words, you'll get nothing - like the rest of us - until the IPO is announced and after it hits the general market (usually after it has been bid up about 200% by those big players I just mentioned). There are some online brokerages that advertise access to IPO's at their original offering prices (E*trade, Wit Capital, etc.) on a first come first served basis, but I think that your chances of being "first" are slim, considering they probably don't have many shares to go around, and the demand is pretty high. That has always been the bad aspect of IPO's. By the time us little fish get a chance to play, the big fish have made it too expensive to get in the game. Sorry, it's not good news. If you join an IPO rush after it has hit the market, you're probably not going to time it right, and buy in at the top. Then the next couple of days, the big fish sell to take profits, and the price falls, leaving you with red ink. It's a tough situation to predict and participate in. On the other hand, if you do get a few shares (usually limited to only 100 ) through E*trade or whomever, and the IPO does well, you can make some decent money. Hope that helps... |
