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Technology Stocks : IFLY - travel sales on the web pure play
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To: Stephen who wrote (1099)5/8/1998 6:31:00 PM
From: Bill Anderson  Read Replies (2) of 4761
 
Stephen,

My tape shows that there was 6700 shares bought in a span of 2 minutes near the close after the ask was moved to 8 1/8. They are going to have to chase the weak stock out of here before the price is going to be able to close over 10. The last two times the stock has run up near that price there has been a lot of selling pressure.
Remember that if they get a close above 10 for 7 out of 10 days they can call the warrants, which is the equivalent of doing a secondary without having all of the registration requirements. The company wants to get the stock there, the underwriter (First London) wants to get the stock there, we all want to get the stock there, so just wait and the stock will get there. They need to turn over the $5.00 stock so that it will stick when they hit $10.00 and they do that by running the stock up and down to flush out the day traders and weak hands. In the meanwhile sit back and enjoy the show.

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