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Non-Tech : Valley Media (VMIX) IPO

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To: Oliver Pepper who wrote (1)3/22/1999 9:52:00 PM
From: L. Adam Latham  Read Replies (2) of 298
 
Oliver:

I read the prospectus, which appeared to be strong, and put in an order for 100 shares. One downside for them is the fact that they actually had earnings. This allows a PE to be assigned immediately. As we've often seen, Internet companies with no earnings often get huge runups in price. I still think this is a low-risk decision, and like with other IPOs, I'm looking for a $2 pop in the offering price to signal strong demand.

Adam
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