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Technology Stocks : Juniper Networks - JNPR

JNPR 39.95

0.0%

Jul 2 5:00 PM EST

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To: mchip who wrote (474)	8/3/1999 1:34:00 AM
From: Don Pueblo	Read Replies (1) of 3350

I saw a site about a year ago after some friends e-mailed me about this "penalty" clause on an IPO offering. They thought that they would get whacked for an extra 5% if they sold their IPO before 30 days. It's illegal for a broker to refuse a sell order. Illegal. What this thing that my friends saw was the firm said that if the client sold the IPO less than 30 days out, they would be charged 5% on the sale. They even had the word "penalty" in the announcement. Well, that is the just the maximum allowable commission on a NASDAQ transaction. It's not a penalty. It pissed me off that a firm would put it in that way, in order to try and scare the shareholders into holding the stock if they bought it. I think it's unethical to do that; try and trick the shareholders into holding a stock that is going down. If the damn stock is tanking, you sell it, you know?

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