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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (36714)	7/22/1999 9:10:00 AM
From: quidditch	Respond to of 152472

Shorting at the close Gourmandier seems right that there was some price manipulation at the close Dear, highly valued, precious thread: In a theme touched upon by JGoren and others on Tuesday, the question arose as to what price the offering would be priced at. Someone opined between 140 and 160, someone else at a few dollars above the close on the day of pricing. In a secondary (yes, the term can be used for an offering by the Q and not just selling shareholders), it is entirely standard Street practice (even if somewhat distasteful to existing holders) for the underwriters of the offering to "manage" trading on the day that the offering will be priced (at the close) so that buyers in the offering get "a good deal". Thus, you can expect that the stock will trade off (notice, not saying "sell off") in order to make the offering price attractive to, and the investment bank rewards, investors, not to mention the underwriters own pockets when they put shares away for the trading/investment portfolio. IMHO, the price action was entirely predictable. Please excuse me if this post is redundant; after working hard for four days to catch up, I found out this morning that I was 500 or so posts behind, again. PS: re. the apparent brouhaha regarding Use of Proceeds: while many of us may have preferred to see the funds applied to internet-enhancing aspects of Q's business, e.g., WK, or new (and heretofore unknown) developments, the use of $800m for vendor financing and G* (if I have it right from a couple of random posts) is entirely consistent with Q!'s long-term and successfully established strategy of broadening the reach, acceptance and application of CDMA. Best regards. Steven