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Non-Tech : Wit Capital Group Inc - (Nasdaq - WITC)
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To: Mohan Marette who wrote (518)7/5/1999 11:41:00 AM
From: Scott Kessler  Read Replies (2) of 845
 
Yes, there is a first mover advantage. Developing relationships w/ Bear Stearns and Goldman has helped Wit. The problem now is that other cos. (like Datek) are exploring ways to catch up w/ Wit. Whether they'll be able to do so is the question. Long-term, I like Wit, but I must admit that in the flurry of percentage gains last week, I sold my shares despite an accompanying 60 IPO lockout. The stock has run very far very fast... Understand that the period from late July to early September is a dead one for IPOs. I figure better be safe than sorry, and that there won't be so many awesome IPOs from now until early September... Interliant, which Wit's offering shares of, should do quite well. They offer hosting services, like Wit IPO AboveNet (now being bought by MFNX) and Net champ Exodus. Lately, shares of these Net infrastructure cos. have been doing quite well. Good luck!
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