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Non-Tech : E*Trade (NYSE:ET)
ET 17.35-0.6%Jan 16 9:30 AM EST

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To: Robert Giambrone who wrote (3443)7/31/1998 9:29:00 AM
From: smartInvestor  Read Replies (1) of 13953
 
Yeah, it doesn't look like they are too concerned about flipping. I would think Robertson Stephens would have cared more about it but perhaps E*Trade gets such a tiny allocation that it's not a big deal.

From the FAQ:

When can I sell the shares I receive?
Once you receive notification of your allocation and the offering begins to trade in the
secondary market, i.e. on an exchange, you can sell your allocated shares. However, one of the
most important goals of the underwriting syndicate is to try to ensure a degree of price stability for new issues. For that reason E*TRADE and BancAmerica Robertson Stephens would prefer
that customers hold their allocated shares for at least 30 days. E*TRADE will not in any way
impede the sale of shares within this time, but customers with a record of short holding
periods may be excluded from future offerings.
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