InfoSpace (INSP): Where GNET went! Message Board

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Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 86.37

-0.5%

Nov 14 9:30 AM EST

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To: levy who wrote (7832)	6/21/1999 3:55:00 PM
From: NotNeiderhoffer	Read Replies (2) of 28311

rl, I have seen guys whip out there cell phones and put in orders to buy stock in the middle of meetings before although many people probably have to actually work thru an investment commitee of some sort.. it all depends as far as institutions go, the numbers as of march 31st showed a number of holders none larger than 300,000 shares and total institutional holdings of about 1 million out of the 13 or so million outstanding at that time. Although there were a few momentum folks in there, i felt the stock was certainly underowned institutionally to some extent and probably still in the hands of the astute main streeters that populate this thread... In any case the numbers were small and there were really no big holders that could of thrashed the stock (given the liquidity) if they woke up on the wrong side of bed one day. The bigger issue is that the stock was on the list for additions to the Russell 2000. Given how many of the bigger internet names are being deleted from the Russell index, and with GNET on the addition list, I figured some money was likely to come out of some bigger cap names who are now too large to be in the index and flow into our favorite little wealth creator, GNET. If you look at how much money is indexed to the Russell, with some estimates of around $12 billion, and how much money is "closet indexed" (anybody's guess), and then figure out the stocks weighting in the index, so on... it is certainly possible that several hundred thousand share have or will be purchased with the stock likely to go in the index. The problem now is that the market cap, which I believe is float adjusted (ie look at what acually trades after insider stock is subtracted) might be too big and the stock will go into the Russell midcap index. Every year the people at Frank Russell "rebalance" the index at June 30th and there are a lot of little games that go on leading up to the actual event. There are several urban legends regarding the rebalancing but I can assure you that we have probaly witnessed some institutional buying of the stock over the past week. Since it is now officially summer I would like to welcome all GNET investors to the summer of '99. NotaDruidNeiderhoffer

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