Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (17674)	3/14/1999 11:40:00 AM
From: Oeconomicus	Read Replies (1) of 18691

Roger, re EGGS, it looks like the secondary is done as the prospectus was final and it was priced Friday at $13.50. Interestingly, though Robby Stephens was an underwriter, E*Trade wasn't offering any shares (they usually participate in RS deals), possibly indicating that they didn't need online retail investors to absorb the 5 million shares. Of course, they did price it a point below market, so the buyers could flip it for a quick profit. Mixed signals. Appears to have been easily sold without the help of online investors, but flippers could cause it to give up the point discount quickly. Looking further, it does increase the share base by 20% and the float by 29%. Also, I was surprised to find that the stock appears to have no analyst coverage. Neither Zack's nor First Call show any earnings estimates for EGGS. Has that been the case all along? Bob

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