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Technology Stocks : Alloy Online, Inc. (ALOY)
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To: visiondf who wrote (131)11/14/1999 11:35:00 AM
From: Jerry Whlan  Read Replies (1) of 147
 
Last week's volume was related to the 180 day IPO lockup expiration. There was a single block trade of about 1.5M shares, undoubtedly this transaction was either a VC firm exiting (entirely normal) or a principle cashing in (neutral, depending on who it was). In either case, the transaction was clearly pre-negotiated so as to not impact the open market for shares. I'm sure we will see an SEC filing at some point in the future detailing exactly what went on as 1.5M shares is about 10% of the outstanding shares and therefore must be reported.

The 1.5M transfer probably caught the naive eye of momentum traders and thus caused a run up. The fact that we have not had an earnings warning is probably a good thing, but you never know with these newly public companies, sometimes they just don't know how to manage expectations.

I, for one, am holding on at least until earnings.
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