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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (4936)	4/24/2000 7:26:00 PM
From: RobertSheldon	Respond to of 6018

I've often said that this is the way folks should invest. Eyes and ears open but no ability to touch anything.

To: TobagoJack who wrote (4936)	4/24/2000 8:03:00 PM
From: Edwin S. Fujinaka	Respond to of 6018

Softbank closed down to $490 here in the US OTC-BB Market. If I understood the Schwab Global Broker right, 9984 should trade at the new split price tonight in Tokyo and the Softbank shares that we are holding in the US will be trading tomorrow at the split price (down to 1/3rd the former price). I'm not sure about the timing of the split change in price because I thought that it was supposed to occur at the end of this week. The Schwab broker did not seem clear on many points himself so I guess we will have to just wait and see. He did explicitly verify that 2/3rds of our position in Softbank would be tied up for the two months and I would not be able to sell it if I wanted to. He said that I could try to sell short, but that Schwab would buy me back in within a few days or a week because I didn't actually have the stock in hand yet. (Not that I am considering selling). So I guess that the consensus is that 2/3rds of the Softbank shares outstanding all over the World will not be available to trade beginning tonight I guess. Interesting, unprecedented situation that would not be permitted in an American stock. So will Michelda's bullish analysis prevail? I tend to agree with him. The lower price will create more demand from the retail investor. Now it will only take a little over $16,000 to get in. Of course, a year ago we also had the same situation so perhaps we shouldn't expect too much action to be generated by just the lower price of entry. Some people may be reluctant to sell at the 1/3rd price in fear that they may not actually receive the new shares in two months if they aren't still holding the stock. Finally, we should expect more good news on the development of Nasdaq Japan as June approaches so there may be renewed investor interest in Softbank on that basis. We should have a few IPOs of Softbank holdings by June so I expect a comfortable recovery in price for the Softbank shares during this period of holding. I wonder about the timing of this split and the startup of Nasdaq Japan...