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Strategies & Market Trends : LastShadow's Position Trading

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To: AlienTech who wrote (11146)	3/24/1999 9:17:00 AM
From: U Up U Down	Read Replies (1) of 43080

Autobytel.com increases IPO price range NEW YORK, March 23 (Reuters) - Internet car dealer autobytel.com raised the price range of its initial public offering to $20 to $22 from the original $16 to $18, the lead underwriter said on Tuesday. The 4.5 million share deal, expected to price tonight for Wednesday's trade, will be underwritten by BT Alex. Brown. Autobytel.com stands in direct competition with Autoweb.com Inc (Nasdaq:AWEB - news), a Web company that brought a $70 million IPO to the market today. In a sign of strong demand, shares had priced at $14 each, well above the estimated price range $10 to $12. Internet auto sellers have been gaining in popularity because of their competitive prices and because people enjoy shopping for vehicles without feeling pressured by aggressive sales people, analysts say.

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