Electronics Boutique (ELBO) Message Board

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Technology Stocks : Electronics Boutique (ELBO)

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To: Mad2 who wrote (593)	11/9/1999 6:40:00 PM
From: Top Jim	Read Replies (2) of 779

Mad2, I agree with your points re: AMZN and getting the SPO behind us. However, I don't believe the 23 price is fixed. It is used to assess a registration fee based on the price at the time of the filing. If the SPO were today, underwriters would have sold SPO near 19. If the price is at $30 when the SPO hits, nobody's going to get shares at $23. That's for the options market and it's all or nothing then. The biggest problem I see with the SPO "overhang" (though not a true overhang) is that the big block buyers have largely dried up either in anticipation of the road show or to subscribe. Low volume days tend to depress prices over time. I'm expecting we'll get a boost from earnings, the road show will get underway (if not done already), and the SPO will be fully subscribed to and block traded out the door. In any case we will have great earnings now and into next year and the SPO will come and go with very little dilutive effect compared to the earnings surprise and overall profit growth (IMHO). Regards, TJ

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