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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Ron McKinnon who wrote (21682)12/19/1999 8:17:00 PM
From: Ron McKinnon  Respond to of 53068
 
Hi M
sure no problem

take PHCM as the example

there are 64,800,000 shares outstanding
but
only 4,000,000 were issued in the IPO on 6/11/99
the other 60mm shares are owned by insiders, venture capital firms, etc

for every IPO there is a lockup period during which the owners of these other shares can not be sold

when the lockup ends they can them sell which can "flood" the market with sells

for PHCM 12,200,000 "unlocked" on 12/8
another 38,400,000 unlock on 2/14/00

so instead of buyers "chasing" only 4mm shares in 2 months there can be over 50mm shares looking for buyers

this often means the price will fall

OK?

as to SI
I'm able to read and post on either version but here is a problem getting past private messages etc on the new version
maybe we all should just use the new one as it is here to stay
if you have trouble e mail SI to ask how to solve the problem


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