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Technology Stocks : EarthWeb IPO
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To: RGrey who wrote (69)11/14/1998 1:39:00 AM
From: Matt Webster  Read Replies (1) of 177
 
You have to think of early access to an IPO as a side payment. In exchange for parking multi-million dollar accounts with Merrill or whoever and paying high commissions on trades, the investor is rewarded with some IPO shares early. I think most of the early IPO shares went to institutional clients, who are gradually unloading them into this crazy market. There's no point even talking about trading this stock until it settles down. You can try to wade into these illiquid markets, but if you do, be sure to add the possibility of getting burned by liquidity risk to the list of risks.

I think the strategy for a stock like EWBX is to wait for volume to shake out and then short it. When volume falls, price falls.

Matt
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