Carl,
May29, $7.50 adjusted for 4:1 split in june2000.
The actual intraday low was $5.625 (split adjusted from 22.50) on May14 97 --- day of ipo. Offer price was 5.9375 (split adjusted from 23.75) $7.5, $5.94 and $5.63 are magic numbers in terms of historical importance only.
Personally, I think it is due for some DCB, as I can't believe that most of the shorts will stick around to the bitter end, some must have lost interest or have bigger fish to fry. If I remember correctly, in the early days, the fundamentals weren't that great, they had a hard time convincing anyone to adopt their old rdram. They now at least have license revenue from psx-2, so their fundamentals now is still stronger than day of IPO. (Ignore me, I know nothing but random speculations)
If anything, this shows how much premium is attached when there is hope of growth, and how much premium is discounted when hope for growth is gone.
As for mom&pop holdings, there was still some institutional holders in Mar01. (over 39M shares in institutions & MFs)
siliconinvestor.irchannel.com
So unless someone knows of any closeouts between mar and now, there are big chunks in there.
Interestingly, I checked the portfolio of some of these guys and they look very sick (especially specialty and aggressive ones that seem to be too heavily exposed in techs). Some MF unit holders are due for another surprise the next time they look at their portfolio closely. |
