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Technology Stocks : Inktomi (INKT) -- Ignore unavailable to you. Want to Upgrade?

To: shag007 who wrote (116)	6/29/1998 11:13:00 AM
From: greentree	Read Replies (1) \| Respond to of 1945

You sound like you work for Goldman Sachs. The underwriter did a pathetic job. They were just plain WRONG in the pricing (underpriced by more than 100%!). But what can you expect from the newest crop of B school graduates that know nothing if it was not in a textbook. $30 million for investor confidence? Are you nuts? The institutions will dump ANY stock at the first sign of trouble, whether we've given them $30 million or not. Were you the kind of kid that gave others your lunch money so they would be your friends? $30 million here, $30 million there and soon we're talking about real money, right? Once again, history clearly shows that a company that lets itself get screwed by "their" underwriters once, is very likely to get bent over again. A benchmark of unsophisticated (with the Street) management. Remember: The underwriter's clients are the institutions NOT the company. They are trying to get the INSTITUTIONS the best deal, and in this case they clearly did.