Web Myst,
I am perplexed at this question. First off, this is quoting directly from the first page of the Feb. 2000 GTR, "So will Avanex (AVNX), our rocketing IPO of early February (we all pray that the pop-up $10 billion market cap firm can actually deliver on it's promise of dynamically tunable optics before the team cashes out, as is allowed in the company's bizarre agreement with underwriter Morgan-Stanley." This remark coupled with an announcement on CNBC the day it IPO'd of the unusually short lock-up sent me to check all information for myself.
This is how I go about investing. I don't see how anyone can claim the public didn't know about this. As I stated before, I posted this on the Gilder Forum the night before AVNX was added to the telecosm. Maybe I'm more careful than most, but I have been worried about the liquidity issue in relation to all these IPOs and their expiring lock-ups.
From these things I went to the SEC filings, as anyone could. I really don't see what the fuss is about? As for any mentions on the forum, I don't have the hard copies, but I don't see where any of this was hidden. Like I said, the day of the IPO CNBC made a reference to the 90day lock-up, and how unusual that was. Then when I read that comment in the Feb. report, it sent me to checking. Simple as that.
Sincerely, Linda |
