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To: myturn who wrote (274)1/10/1999 12:06:00 PM
From: Janice Shell  Read Replies (1) | Respond to of 682
 
I objected to your post because people say this stuff all the time: XYZZ was a penny stock; Microsoft started business in a garage. In point of fact none of the first-tier Net stocks started as a penny. They did normal IPOs with respectable underwriters, and if you wanted in on the first day you didn't get in cheaply.

Unfortunately way too many people accept statements like "it started as a penny stock" uncritically, not bothering to check historical prices.