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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?
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To: Ron S who wrote (6494)6/18/1999 11:40:00 AM
From: David H. Zimmer  Read Replies (2) of 20297
 
Clear notice was presented in the June 15, 1999 "red herring" prospectus that "the underwriters may reserve up to 250,000 shares of CKFR for sale at the public offering price to one or more persons who have direct business relationships."

These shares, in conjunction with the 570,000 shares noted for use to cover over-allotments, suggests a successful offering is in place. What must now be considered is the final stage of how the "whores" work. Those who look to buy the stock on offering want it to "pop" afterwards. Justification of just how high the stock can trade prior is at issue. If the stock runs much past $42 to $44 over the next few days, i.e., if the shorts get scared, not much of a "pop" can be expected and time will be necessary to digest additional shares.

What also must be taken into consideration is that (1) if shorts are planning to cover with these shares, that signifies a final trade, i.e., shares that will not have to be sold afterwards in the open market and (2) the other shares that are being sold to institutions are not going to see the light of day for several quarters, a year at minimum.

In short -- this security is poised to increase in price. I hate to say it but -- nice work whores.
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