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Technology Stocks : 3Com Corporation (COMS)
COMS 0.00130-18.8%Nov 7 11:47 AM EST
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To: David E. Taylor who wrote (39703)2/23/2000 2:43:00 PM
From: Mort  Read Replies (1) of 45548
 
David

I went to the Thomson I-Watch commentary and found this partial explanation. I fit is the fast money boys we had better watch out if there are any disappointments on the IPO opening.

23-Feb-00 12:00:00 3Com is trading up $3 11/16 to $74 9/16 as the planned IPO of 3Com's Palm Computing Inc division draws closer. Expectations for a successful IPO of the Palm unit at the end of February have caused many to play the IPO through COMS as these shareholders will effectively have a stake in the spin-off. Shares of 3Com have run up about 58% year-to-date and are trading just under the stock's all-time high of $77. Today's 6% run-up is largely attributable to speculative/momentum players who are focused on the short-term prospects for 3Com, particularly in the context of potential upside from the Palm spin-off. Pre-trade I-Watch data shows some institutional investors have stalled today's rally by offering blocks into the gains. However, the post-trade data suggests institutional investors have had a limited affect on today's session - just 20% of today's trading has been done in blocks. The money that is moving the stock is coming from the Fast Money investors which is a group that includes retail day traders, professional day traders, market makers, and traditional momentum/aggressive growth institutional investors.
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