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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (36059)	11/13/1998 2:07:00 AM
From: PaperChase	Read Replies (1) of 132070

MB. Am I the only one with the lightbulb in my brain turned on? Here is what journalists have written about Earthweb: "New York-based EarthWeb sold 2.1 million shares in a deal headed by J.P. Morgan. Online broker Wit Capital was the "e-manager" handling online distribution of the IPO. More than 11.5 million shares changed hands." No doubt there are lock-ups in place on all shares except the 2.1 million shares plus over-allotment issued in connection with the IPO. (I haven't checked yet, I'm still in shock.) So if the lock-ups are in place then the float on EarthWeb turned-over about 6 times today!! Am I missing something here? It seems like this bubble is way out of control.

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