Amazon Natural (AZNT) Message Board

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Microcap & Penny Stocks : Amazon Natural (AZNT)

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To: Don Pueblo who wrote (23429)	7/10/1999 9:40:00 AM
From: Arcane Lore	Read Replies (1) of 26163

The belief that MSFT or DELL or some other very successful company was once a penny stock seems a common one among penny stock fans and touts. Actually MSFT IPO'd at $21.00 per share according to Bill Gates' home page: Microsoft Goes Public 3/13/86 Microsoft stock goes public at $21.00 per share, rising to $28.00 per share by the end of the first trading day. Initial public offering raises $61 million. microsoft.com In those instances where the mistake (that MSFT, DELL etc. was once a penny stock) was unintentional, it may have resulted from looking at a long term stock chart or price history of the stock while failing to note that numerous stock splits occurred subsequent to the IPO. For a history of MSFT's stock splits see: microsoft.com Thus unadjusted for subsequent splits, MSFT went public at $21.00. Taking into account subsequent splits, one of today's shares is the equivalent of 1/144 of an original IPO share and would have a cost basis of $21.00/144 = 14.58 cents on the IPO day. Pugs' testimony occurred prior to the last MSFT stock split, so on 2 Feb 99, a single MSFT share would be the equivalent of 1/72 of an original share and would have a cost basis of $21.00/72 = 29.17 cents (not 73 cents). BTW Dell's IPO details are summarized in #reply-8529573

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