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Technology Stocks : CMGI What is the latest news on this stock?
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To: PAL who wrote (11314)7/1/1999 10:24:00 AM
From: Winter  Read Replies (1) of 19700
 
>>If you have information that CMGI DSP is a lottery, could you provide the link.

Hi Paul,

From affinity.witcapital.com

>>Wit Capital will calculate the total number of shares demanded by all of the individuals replying and will allocate fully the number of shares allotted to this program in. Please keep in mind that the demand for shares may exceed the supply available to distribute. Therefore, no guarantee of an allocation of shares can be provided. <<

That combined with the statement that Wit has a minimum purchase of $1000 (not sure where I read that) and that the minimum you can request in the engage ipo is 100 shares leads me to believe that the minimum allocation will be a round lot - which in turn implies that not everyone is going to get some.

I don't think Wit wants tens of thousands of engage shareholders each with 10 shares in their account. Frankly I doubt I'd want to deal with the hassle of having yet another account for anything less than 100 shares too.
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