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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 229.12

-0.2%

Nov 26 3:59 PM EST

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To: Stefan who wrote (36232)	1/24/1999 11:05:00 AM
From: tonyt	Read Replies (1) of 164684

>Shares of newly public companies like Marketwatch.com and Theglobe.com >have risen threefold or fourfold in a day Why is it that the media always base this comment on the IPO price and not the opening price? Marketwarch.com may have risen 80+ points off of the ipo price, but it also opened 80 pts off of the ipo price. The job of the underwriter is to sell stock to the public so that the company it is advising gets the proper price. The company is suposed to get the cash, not the CEO and the undewriters clients! Instead of $80/sh that the company should have received, it only got $17/sh because the underwriter underpriced the deal. I read about YHOO and Softbank dealings ad nausm on SI and in the press, yet no one has any problem with the above.

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