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Technology Stocks : INFOSEEK (GO)
GO 9.490-0.4%10:12 AM EST
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To: Tom Klempay who wrote (2367)2/13/1998 1:31:00 PM
From: Janice Shell  Read Replies (1) of 9343
 
I'm looking at a pre-market bid/ask 13 9/16. So, dumb question, but if the price of the SPO is 13 7/16, why would anyone pay more than that now?

Because institutional subscribers to the secondary are often required (by the terms of the deal) to buy more in the aftermarket. So generally it's assumed that after delivery the price will go up; therefore, buy now.

Evidently even the lead underwriters couldn't get very many shares for retail sales.
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