STEAMROLLER'S DAYTRADES Message Board

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Strategies & Market Trends : STEAMROLLER'S DAYTRADES

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To: lightfoot who wrote (626)	8/27/1998 3:59:00 PM
From: STEAMROLLER	Read Replies (3) of 1561

15:26 ET Shopping.com (IBUY) 5 7/8 -8 3/4 (-56%): Shares of Internet retailer down sharply amid reports that its largest market-maker and underwriter, Waldron & Co, has stopped trading the stock. With average daily volume of only 136 shares, probably wasn't that tough of a financial decision, though you would think that as underwriter firm would stand behind issue. Certainly didn't help that IBUY is desperate for cash. Earlier this month, company disclosed in SEC filing that it needs to raise $26 mln to stay afloat. Also, SEC has been investigating manipulation of the shares. Additionally, company recently filed to sell 2.3 mln shares at $25.25 each. Stock down 73% over past week.

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