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Technology Stocks : E*TRADE IPO ALERT THREAD
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To: Bob Duncan who wrote (55)4/2/1999 8:38:00 PM
From: Shadowed  Read Replies (2) of 15145
 
In reviewing the frenzy that occurs during the actual window of IOI on E*TRADE, I have some thoughts.

First...It is a fact that some Platinum members get advance notice and some don't. It is a fact that some Platinum members get notices ranging from a couple of days in advance till it's too late! It is a fact that not every Platinum member gets an advance notice of every IPO opportunity. Why would you want to be a Platinum member?

Second, I thought the whole IPO program was to give some measure of democracy to the little guy. E*TRADE has made a program available that previously we have never been able to participate in. Now some of the Platinum members are starting to sound like the old boys club. A lottery driven by the number of trades you place equates to whether you are a "big enough" player to get in this game.

Bob Duncan says, "This way, someone that generates 10,000 in com. fees for Etrade has a higher chance then someone that simply opens an account to get in on IPO's but does not generate trading revenue with Etrade." I think anyone who gets into an IPO through E*TRADE will generate positive word of mouth and new account referrals to make the program worthwhile. Generating commission for E*TRADE from it's Platinum community won't make any significant impact on E*TRADE's bottomline. Remember that a big factor the financial community measures online brokers by is new account openings. This is a volume business.

Third, and my most important point, is I don't think time stamps are the biggest determinant of IPO share allocations. I have read over and over that some late time stamps get shares and some early time stamps don't get shares. I think everyone is giving too much credence to early time stamps. Granted, there seems to be an advantage to early IOIs but it's not the end all be all that some would suggest. I also don't believe that you have to be a customer in an E*TRADE Affinity Program (Priceline and Value America) to get shares. In fact I think it may be illegal for E*TRADE to discriminate that way. (Any lawyers who read this thread care to share your thoughts)?

Final thought...IPOs are almost the equivalent of free money. No one will ever be happy unless they have an edge over everyone else. I read and occasionally participate in this thread to get news, share news and feel a part of a community that is having a ball of fun with this program. Many of you have excellent insight and are very intelligent. Good luck to all!
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