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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: cardcounter who wrote (10)8/13/1998 9:59:00 PM
From: SteveHC  Read Replies (1) of 15615
 
It is standard operating procedure for a company and its IPO distribution partners to "sell" all of the shares to be offered the day before the stock's to "hit the streets." The brokerage firms that bought up all of the initial lots then sell to the public when the market next opens. Consequently we should expect the shares to be going for more than $19 tomorrow am (they'll expect to make a profit, for sure!).
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