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Technology Stocks : Winstar Comm. (WCII)
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To: MangoBoy who wrote (10342)2/18/1999 11:14:00 AM
From: Steven Bowen  Read Replies (2) of 12468
 
"buyers of the secondary offering are now down 25%."

What the heck were Grubman and Governali doing letting this thing price at 41.75 if they weren't positive WinStar had announcements coming that could support the price at at least this level?

To me, this is a major screw up on Grubman's part, and I bet they have a lot of very pissed off large customers.

And how the heck did the stock hold the 40's so long before the secondary on no news, only to collapse immediately afterward? A little upward manipulation? Anybody remember level II? Was it all SSB and CSFB on the bid supporting the price?

If you can't tell, this whole situation is kinda pissing me off. How can you schedule a secondary with no news? At least I shorted P-Com at 9 1/2, it's the ONLY thing saving my ass these days.
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