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


To: Mary Baker who wrote (6169)7/3/1999 1:24:00 PM
From: ChopChop99  Read Replies (2) | Respond to of 16809
 
Sorry, wrong...

First, IPO shares don't become marginable until they're about 30 days old...

After that, once they're moved to margin, you can use them as collateral to purchase other marginable stocks, but not IPO shares, since IPO shares are not marginable until they're 30 days old...

I know that exceptions have been posted from time to time, but the rule is that IPO shares must be bought with plain old cash.

Clear as mud?

Chop