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To: KyrosL who wrote (39503)	2/18/2000 3:36:00 PM
From: Mehrdad Arya	Read Replies (1) \| Respond to of 45548

With only 4% of the outstanding shares of Palm slated to go public, the Underwriters have limited supply, ensuring demand to greatly outpace supply, causing an almost certain paroxysm in the stock's price. When you understand why a lot of these IPO's command lofty market caps you will see why they are so vulnerable to insider and institutional manipulation. The market cap is based on the product of the # of outstanding shares and the current trading price of a stock. It is not the product of the Floated # and the stock price. That means if the last traded price of Palm is $100 on the day of the IPO that would leave it with a market cap of $57 billion. If only 23 million share are floated how can anyone who is observant of the psychology associated with this irrational market not give credence to a possible first day of trading at $100. In my opinion it is far from definitive to refute the possibility of this happening. Example: ICGI, Internet Capital Group Inc., has a market cap of $30 billion. It has only floated 21 million shares of its' 261 million outstanding shares. With its current price of $115 and 261 mill. shares we have the market cap of $30 billion. Now, don't you wonder who owns the other 240 million shares. They have not been floated but they are used in calculating the Market cap.. I find this to be alarming and scary. Your comments will be appreciated.