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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (6066)7/26/2000 4:14:18 PM
From: Ilaine  Read Replies (1) of 436258
 
Corvis (CORV) IPO on Friday should suck at least a billion in liquidity out of the broader market. 27.5 million shares in the IPO, the IPO price has already doubled, final price to be set Thursday night. I am guessing it goes off at $50, at least, which would mean $1.375 billion. There are 330 million shares outstanding, if my guess is right, the company should have a market cap of $16.5 billion, which isn't bad for a company with no revenue. Having said all that, wish I had some. If I can get any for $30, I definitely will. That will be the last bear throwing in the towel. BTW, rumor has it that the company turned down $10 billion offer from Cisco.
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