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

To: gene_the_mm who wrote (397)	8/2/2000 10:38:53 PM
From: helkel	Read Replies (1) \| Respond to of 1426

Gene New old post with ?? Gene Quick ?: In a recent IPO stock with low float (<1M shares), low avg vol (140k), is it likely that lead underwriter will push stock until initial 6 month lockup period is over and support it like heck ???? I am looking at the action in WITS since it was upgraded by its lead UW. Stock went from 7 to 13 to 29 in about 10 days with nothing other than the UW upgrade (ie no new deal with AOL or whatnot). Release date is AUG 8th for locked up shares. What I thought was weird is that 100 share bids would take stock up 2-3 points, then 1000 or 2000 shares would be sold at bid without bid dropping at all. And with all the shorts the stock would run like crazy. Sound like anything unusual ??? Stock is back to mid teens, but its been weird watching the support of one big UW keep the stock rolling. Or is it simply more buyers than sellers thing ??? THanks and best of luck HK