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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: RobertSheldon who wrote (5467)	4/15/2000 3:40:00 PM
From: Theophile	Read Replies (1) \| Respond to of 15615

RE: Steve Malsin post re secondary offering <<<<>>>>> Check this out. The Steven Malsin post on SI stated the syndicate would support the secondary offering price of GBLX......so how come it is falling? I figured it must be tied to an index somehow. So I pulled out my slide rule and took off my socks (slide rules can't add, remember?). If the COMP.Q for the 11th (date of pricing at 33) and the COMP.Q for the 12th (date of sale) are averaged, and the percentage difference from then till tonight's closing is applied to the 33$ sticker price for the secondary, it comes to 28$. Same for previous night, at 31$. In both instances, the price is increased by 1/8....Goldman, always the Gentleman, no? So, the syndicate has apparently tied the price to the overall index of COMP.Q, or we have an extremely bizarre mathematical coincidence. Now, had I known that, I would have still been unable to profit by it, however it is interesting to know these secondaries may be tied to the index on the down side, eh? Live and learn. Times such as these reveal the lack of makeup, and sometimes this can be helpful for future reference. Aloha, Martin