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Technology Stocks : Data Broadcasting Corp. (DBCC)
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To: oden67 who wrote (4187)1/18/1999 10:59:00 AM
From: Kimberly Lee  Read Replies (1) of 5102
 
<<MKTW in my opinion being at around 100 dollars a share is the single most ridiculous thing I have ever seen in this crazy market. It is a web site where you basically get free stock quotes.>>

You are paying far too much attention to the fundamental picture of MKTW, which is not that relevant in its trading activities on Friday.

The hidden but far more pertinent reality is that MKTW is the first IPO (the 1st internet IPO at that) of 1999, and as such it sets the tone for the many IPOs to come. Many major investment banking entities have recently modified their business model by decreasing emphasis in trading and by increasing attention to more stable revenues/incomes sources that come from mergers, acquisitions, IPOs, secondary offerings...etc. Would they want to see the first IPO of the year tank, causing potential great losses in incomes from underwriting? The logical answer is a resounding no.

As early as 2 weeks ago, nearly everyone in the IB sector I spoke to, from GSCO, MSCO to the small boutique firms, wanted to see a very successful MKTW IPO and will do everything in their power to support that scenario. I just hope that the underwriters will continue to support MKTW after the astounding, meteoric rise in its debut on Friday.
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