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Technology Stocks : Buying IPOs on the open market -- Ignore unavailable to you. Want to Upgrade?

To: J Gunn who wrote (5152)	12/10/1999 10:10:00 PM
From: Jim Baker	Read Replies (1) \| Respond to of 5529

J - I also remember that the timing was pretty tight. Unless you claimed your "friends and family" shares by paying for them by a certain deadline - I think it was 5 p.m. San Francisco time, the day before trading - you lost your chance to get them, and they reverted to Critical Path (the company going public). There wasn't any brokerage fee for buying them at the IPO price; I paid $2400 for 100 shares. Instead of selling promptly, I had them transferred to my regular Fidelity account, for a long term hold, which turned out to be a mistake. CPTH hit $150 on the second or third day, then went gradually down to a low of $32 about six months later. It has since come back to around 80. Jim