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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Keith J who wrote (7038)	1/31/1998 7:10:00 PM
From: Bill Harmond	Respond to of 27307

Keith, That big insider sale is coming in the form of a secondary offering, which is being handled that way precisely to preserve investor confidence. There will be a road show and the shares will be destributed on a subscription basis rather than sold into the market piecemeal. I haven't been paying much attention to the secondary, and the prospect of new supply might weaken the stock some for a time, but I don't think it will derail Yahoo like the bears hope. Your XCIT/YHOO spread seems to me to be a great strategy here. I prefer, however, to just be long the leader over the longer term. Yahoo will be getting first crack at all the commerce deals, and it has a better global presence and advertising-sales infrastructure. Someone earlier mentioned Intel's sale of their Yahoo shares as a bad sign. I remember back in the mid 1980's when IBM sold off their much-larger stake in Intel...

To: Keith J who wrote (7038)	1/31/1998 10:25:00 PM
From: Don Earl	Read Replies (2) \| Respond to of 27307

Hi Keith, If I'm reading the S3 correctly it prohibits the sellers from offering the stock for sale until all the necessary amendments have been filed. It looks like the last one, refering to the 1.5 million shares, hit the SEC on Jan 22. I'm assuming these shares didn't start going to market until about a week ago. I'm guessing that the other 850K shares could have started selling on the 12th. It also states that the intent of the sellers is to distribute the shares over a period of time up to Oct 98. From what I understand most form 4s are not filed electronically and insiders have 30 days after the sale to file. If insiders have been dumping in January, we probably won't know about it until the middle of next month. I don't remember the details but I believe there is a limit on how much stock insiders can buy/sell in a given week. If my memory serves me correctly it's based on a percentage of the average daily volume. I also seem to recall that insiders on IPOs are required to hold their shares for a period of time before being allowed to start selling. I think it's 18 months but I'm not sure. I've noticed that the charts on IPOs can get pretty ugly looking at about the 1 1/2-2 year point. My knowledge of SEC rules is pretty basic and there are a lot of big gaps in that knowledge. Feel free to correct any misconceptions that may be included in this post. Regards, Don