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Non-Tech : Barnes & Noble (BKS)
BKS 6.4900.0%Aug 19 5:00 PM EST
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To: Daskin who wrote (1138)5/12/1999 6:17:00 PM
From: space cadet  Read Replies (2) of 1691
 
I agree that what we have here is something brand new, a backdoor ipo that will not move. Clearly it's being controlled and as I guessed recently, GS may never officially announce any date for the ipo to keep the price down the whole time. Actually, I think this is probably all related to may options. It seems to me that the goal is to keep the may 35 options worthless. If I am right then we will close next Friday at 35 or less. We may get a pop the following monday, or we may not. This is the first such situation where the stock has not moved within 2 weeks of its going public. The chances of it making any move now before options expiration is very small.

I think GS is doing this to try to prevent what happened to ZD to happening to BKS. However, I don't know if it will really work or not. I would say that there is still an excellent chance that BKS may fall anyway after the ipo even though it never made any upward move.
I don't like playing with stocks which are so clearly and obviously being manipulated by the big boys. If BKS does pop on Monday I see it as a one day or two event before the inevitable fall. I'm sure bnbn will do just fine when it opens but it looks increasingly like bks will not enjoy any of that benefit. Weird situation. And I'll admit, this has been a waste of time and money. I'll probably end up even unless bks collapse in the next few days. I'll get out sometime soon. I think the mistake was playing with a NYSE stock. Those are way too manipulated. The Nasdaq is a more honest exchange and I don't think GS and/or whoever could get away with these tacky games there.
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