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Non-Tech : Meet Gene, a NASDAQ Market Maker -- Ignore unavailable to you. Want to Upgrade?

To: LPS5 who wrote (352)	8/1/2000 6:01:34 PM
From: Bilow	Read Replies (2) \| Respond to of 1426

Hi LPS5; Re hot IPO issues... I am still confused, I thought that the underwriter took the profit if the stock traded at a price far above the IPO price. When an IPO comes out the gate like PALM, does the underwriter clean up, or does any extra money go to someone else, (like the issuing firm)? I was under the impression that the issuing firm got a fixed amount, rather than a variable one, and that that was one of the reasons why they went with an underwriter rather than just selling the shares themselves to investors. TIA. -- Carl