Pinnacle Holdings Inc. (BIGT) Message Board

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Technology Stocks : Pinnacle Holdings Inc. (BIGT)

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To: Jeff Sutton who wrote (6)	3/20/1999 1:25:00 AM
From: Peter Dierks	Read Replies (1) of 11

a lot of times a recent ipo is not fully subscribed. the underwriter buys at the ask price, and dumps stock later. the fever of an ipo will support higher prices, but the underwriter does not wish to crash the price. thus underwriter sells only as much as the market will allow without depressing stock prices. once they have unloaded their undesired position, they sigh with great relief. just a theory. Peter

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