thestreet.com
A few paragraphs from that TSC story:
<<Any number of factors are preventing barnesandnoble.com from seeing the fat gains many Internet stocks have enjoyed on their first day of trading, according to David Menlow, president of IPO Financial Network. Menlow said last week's announcement from Amazon.com (AMZN:Nasdaq) that it would sell books on the New York Times bestseller list for 50% off, subsequently matched by barnesandnoble.com and other online booksellers, has increased fears that price wars are going to cut into margins. The next step, he said, could be a cut in prices of books not on the bestseller lists.
Menlow also noted the 25 million shares being offered by the company. He said the fact that roughly two-thirds of the float had changed hands in the first hour of trading was a positive sign and the stock was "holding up well" considering the size of the float. By comparison, eToys (ETYS:Nasdaq), which debuted last week, had a float of 8.3 million shares.
Menlow also said that barnesandnoble.com is going to evolve, much like Amazon.com, which has expanded its model to incorporate online auctions, online groceries and online drugstores. Financial institutions may be holding back, he said, until more news about the company's plans is known. >>
Anaxagoras
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