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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Arrow Hd. who wrote (12864)	8/9/1999 3:45:00 PM
From: orkrious	Read Replies (2) \| Respond to of 30916

Merrill continues to sit on the bid all day, buying thousands and thousands of shares, every share they can. Jay

To: Arrow Hd. who wrote (12864)	8/9/1999 4:43:00 PM
From: David Wise	Respond to of 30916

The 300,000 share set-aside is part of the confusion I was talking about. If already set aside for NBC and already reported in their prospectus, then NTOP shouldn't have had such a reaction today (or was it, then, an overreaction?). If not already allowed for, then they may be issuing additional shares, which would dilute IDTC's holdings to below 57%. Longer term, IDTC could gain from the association even if diluted. Issues here are too cloudy for me to jump in. ZD, MALL and others have not come back to near pre-IPO levels (however, MALL spun off UBID shares to shareholders within 6 months of IPO). I fully understand that IDTC may be valued at no more than their interest in NTOP, alone. ZD and MALL have been (when it was relevant) valued at far less than their IPO holding, alone. Not rational, but so much for the theory that the market is always valued fairly! As I kept my own advice, I did not own any shares (long or short) at IPO of NTOP. Market conditions not withstanding, the writing was on the wall, and I read it carefully. Long term, I rate IDTC a 'Buy'. Short term 'Hold'.