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Non-Tech : Interactive Brokers

IBKR 68.61

-0.9%

9:41 AM EDT

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From: Rick Labs	5/4/2007 11:27:27 AM
	of 14

I'd say it's the institutions that are unloading all they can at a 8-15% pop off the 30.01 price they paid. After ample promotion and red herrings sent to every retail investor all over the place, road shows, massive news coverage of the IPO, favorable news at the last minute, etc. the clearing price for the 40m shares was $33. Few institutions want to hold this stock at $33/share vs. GS at 10x. Those that do only want to flip it on a momentum trade just as fast as they can. None of the IPO funds are going into the entity so the strategy of the recent past is the best indicator of what they intend to do in the short-term future. 12m shares out of 40m float have already changed hands in the first couple of hours of trading. It will take positive fundamental news to move this one dramatically higher.

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