IPOs: Too many, too fast, to little buyers? Message Board

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Technology Stocks : IPOs: Too many, too fast, to little buyers?

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To: Mad2 who wrote (41)	7/23/2000 3:49:47 PM
From: RockyBalboa	Read Replies (1) of 84

Ahaa! Too many IPOs! While the market was somewhat friendly to set up a mild weather for the IPO "Avalance...", it could ebb as soon as the new issues have been rushed to the markets.... See: Sunday July 23, 2:58 pm Eastern Time IPO VIEW - IPO avalanche set to fall on Wall Street By Denise Duclaux NEW YORK, July 23 (Reuters) - Wall Street is bracing for an avalanche of new issues in the upcoming weeks as the horde of companies that shelved plans for initial public offerings during the Nasdaq's spring meltdown finally summon the courage to face investors. An estimated 85 companies are planning to go public during the next three weeks, raising more than $8.5 billion if they price their shares in the middle of their anticipated range, according to a research firm CommScan. That compares to roughly 40 initial public offerings that generated $4 billion in the same year-ago period, CommScan said. ``It's a stampede,'' said John Fitzgibbon, IPO editor at WorldFinanceNet.com. ``You had a sharp slowdown in the IPO market through May and into June, now all of a sudden you have a big explosion. All this market is doing is riding the waves and undercurrents of the Nasdaq composite.'' GOING WHILE THE GOING'S GOOD ..... TOO MUCH, TOO SOON? In particular, investors have been eager to buy a slice of new telecommunications equipment and biotechnology companies, many of which have touted big-name customers and some of which even posted a profit. Underwriters appear to be pushing out strong deals as the market makes an uneven recovery, betting companies with strong fundamentals can shake off volatility better than their weaker peers. biz.yahoo.com

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