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Non-Tech : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: Lao Ou who wrote (5387)	6/24/1999 4:56:00 PM
From: ria	Read Replies (1) \| Respond to of 16809

Has anyone recvd shares after doing an IOI outside of the prescribed 6 or 7 hour window? I came in 38 minutes after the JNPR window...arrgggh ria

To: Lao Ou who wrote (5387)	6/24/1999 4:59:00 PM
From: ChopChop99	Respond to of 16809

Nice Wit article from Bloomberg... Wit Capital Shares Rise Amid Active Work on Internet IPOs By Randy Whitestone Wit Capital Shares Rise Amid Active Work on Internet IPOs New York, June 24 (Bloomberg) -- Wit Capital Corp., an investment bank that distributes initial public offerings to individuals over the Web, rose 11 percent as the firm helped manage a series of IPOs for Internet companies. Wit rose 1 19/32 to 15 1/2 on trading of 2.4 million shares on a day when shares of most brokerage firms fell. Earlier it reached 16 1/4. The stock is up 61 percent in seven trading days. 'If people are finally figuring out what we do and understanding our business model, that's good news,'' said Susan Berkowitz, senior vice president for marketing at Wit. She said she knew of no specific news that would affect the stock price. Wit has helped other investment banks distribute shares online in 90 public offerings, Berkowitz said. Wit was listed as a co-manager in ''tombstone'' ads for seven offerings in today's Wall Street Journal, including sales for Drkoop.com Inc., TheGlobe.com Inc., Xoom.com Inc., Covad Communications Group, CAIS Internet Inc., StarMedia Network Inc., and its own stock sale. Internet companies account for more than half of the 40 IPOs priced this month. Wit itself sold its stock to the public June 4, placing 7.6 million shares at $9 apiece. Trades made by individuals over the Internet more than doubled in six months to a daily average of 496,000 industrywide at March 31, according to U.S. Bancorp Piper Jaffray. Other online investment banks seeking to capitalize on this trend include Friedman, Billings, Ramsey Group Inc., W.R. Hambrecht & Co. and E*Offering, which announced yesterday that it managed its first stock sale, a $73 million transaction for computer leasing firm First Sierra Financial Inc.