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Technology Stocks : Edify (EDFY) IPO -- Any Comments? -- Ignore unavailable to you. Want to Upgrade?

To: Austin S. who wrote (346)	8/19/1999 9:54:00 AM
From: Kevin A. Lynch	Respond to of 355

Austin, EDFY is a good proxy to purchase SONE shares at about a 4% discount (the risk premium for the deal falling through <seems rather remote>).... But if your thinking of making the arbitrage play (short SONE and buy EDFY with the proceeds) I think you'll have trouble getting enough EDFY to fill your orders without closing the parity. Maybe you trade well, but when I do comparisons of buying and selling, I automatically think of buying at the ask, and selling at the bid. Regards, Kman