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Technology Stocks : E*TRADE IPO ALERT THREAD
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To: Frederick Langford who wrote (2510)5/13/1999 2:10:00 PM
From: Gerald Walls  Read Replies (1) of 15145
 
I also was told by Etrade the FCFS was no longer the criteria, that once all the names were in, the shares were allotted by lottery.

Until E*Trade announces prominently that this is the case I will continue to believe that it's bullsh|t. Think about it. If they want to stop IPO clickers from crashing their web site then secretly moving away from FCFS does nothing for them. They would need to widen the window to an hour and announce it all over the damn place.

All of this lottery vs. FCFS stuff is a waste of time. Because of the above, you can believe with a high degree of certainty that FCFS is the most important non-cash factor in determining who gets IPOs until E*Trade very publicly (NOT over the phone to individuals) says otherwise.
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