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Technology Stocks : UBID - an IPO spinoff of Creative Computers -- Ignore unavailable to you. Want to Upgrade?


To: Rajiv who wrote (509)8/19/1999 9:24:00 AM
From: who cares?  Respond to of 581
 
Ditto. Has #activetrader or Yahoo message boards ever been a reliable source for even one big take over rumor? Just short all of these type of rumors, and if we have a blue moon and a takeover does happen your still way way ahead from the 26 other times it didn't happen and the price collapsed. UBID was probably oversold going into yesterday, but not to the point where 40% in a day will hold. Actually I hope it runs more to add to the short, but it looks like a weak open.
This one had the added benefit of all the daytrader gurus believing the 1.6 mm float number you get most places. This number had to have increased significantly when MALL shareholder got their UBID shares, that was 7mm+ shares, and a lot went to week hands.
Mr. Burns



To: Rajiv who wrote (509)9/27/1999 8:32:00 AM
From: Rajiv  Read Replies (1) | Respond to of 581
 
Banc of America initiated coverage of uBid last Friday with a Strong Buy rating.

What is interesting is that Banc of America is one of 4 underwriters of the proposed secondary of 2 million shares (the other underwriters being Merrill Lynch, William Blair and Wit Capital).

From the current version of the prospectus filed with the SEC on the 23rd,
The shares of common stock will be ready for delivery in New York, New York on or about September 29, 1999.


The underwriters no longer wait to close the secondary before pumping the stock. In fact, I was under the wrong impression that underwriters cannot make any public comments just before closing a secondary.

Regards,
Rajiv