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Non-Tech : Barnes & Noble (BKS)

BKS 6.490

0.0%

Aug 19 5:00 PM EST

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To: Glenn Petersen who wrote (1146)	5/12/1999 9:55:00 PM
From: American Spirit	Read Replies (2) of 1691

I disagree. I believe BNBN will be the biggest net IPO of the year and BKS will suddenly become very undervalued after its success. I also believe that BKS wants the underwriters to keep their stock from being used like a yoyo prior to the IPO, then dumped and shorted afterward. They don't want BKS turned into a DBCC (47 back down to 15 in two days). They prefer to be a stronger version of of UIHIA after the IPO, to rise and then keep rising. I see nothing incredible about underwriters sacrificing a few million to box the price of BKS in this week. But by next week, with the media exposure going, they will WANT to let the price go into the 40's so long as they consider it sustainable. Goldman Sachs has gone on record as disliking traders and they are big and smart enough to keep them at bay. Thousands of traders would like to buy now but won't until they see the price start gapping up. Therefore GS will keep it from gapping up. I think you underestimate the power of these underwriters, their concern about extreme volotility and their intent to make A LOT OF MONEY off these two stocks both short and long term. BKS is a great buy now but if you sell this week you are not smart. My prediction 36 by Friday, 38-40 next week, 43-45 a week from Monday when they raise the price of the IPO, and even higher on IPO day if BNBN multiplies in value like I think it will. As several posters have pointed out, if BNBN goes high enough and holds that price (deemed a smaller but growing version of Amazon) then BKS's piece of BNBN will be worth it's current market cap alone. That gives investors (not traders) the impetus to buy and hold BKS long into the future. I'm very long BKS, but a little patient.

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