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Technology Stocks : FOCAL COMMUNICATIONS - FCOM

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To: Kumar who wrote (7)7/24/1999 10:30:00 AM
From: Vijay Raghavan  Read Replies (1) of 15
 
It is little doubtful that Focal will be as strong as Paradyne since the offering size of Focal is 50% more than PDYN. I have noticed some of DLJ's recent ipos VOYN and JFAX failed miserably due to higher offering size. VOYN is already 10% below the offering price (only 2 days old) and JFAX closed flat on the first day. PDYN did relatively better due to lower size of the offering . I have noticed that if the offering size is around 3 to 5 million the IPO has a good pop on the first day . If it is more than 5 million first day performance varies. Focal offering size is 9 million. First day's performance is simply a game of supply and demand.Long term, who knows!
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