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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Digitom who wrote (47336)	4/19/2000 5:14:00 PM
From: Digitom	Respond to of 99985

more lockup twaddle from WSJ article... An underwriter can let shareholders out of a lockup early, and as tech stocks soared to potentially unsustainable heights, some underwriters did so. Such a move came in handy for some investors in Akamai Technologies. In late March, its shares traded at more than seven times the IPO price of five months earlier, but well off the high. Lead underwriter Morgan Stanley Lead underwriter Morgan Stanley Dean Witter & Co. approved an early release from the lockup for about 2.2 million shares owned by "certain early-round investors" and "certain nonmanagement shareholders." The lockup release was meant to "control the number of shares that enter the market" by letting people sell some shares early in return for agreeing to hold a majority of their position beyond the original lockup date of April 26, an Akamai spokeswoman says. The move wasn't intended to benefit early-stage investors, she says, noting that "nobody is able to predict what will happen in the stock market."