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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Dave Shares who wrote (9791)	3/5/1999 2:26:00 PM
From: Jeffrey Lee	Respond to of 43080

LastShadow, Have a question regarding EGGS. Schwab sent me a notice announcing a secondary offering of 5,035,000 shares (5,000,000 from the company and 35,000 from shareholders) from 2/22/99. The offer price from Schwab is $17.38 (this was the approximate price on the 22nd) with the date being 3/11. Since this time the stock has fallen in to the $13's. Would this be perhaps attributable to the impact of the increase in the float? Any idea if this (the current price level) would result in them pulling back the offer - which would result in the price moving back up? Why would anyone participate in the secondary when the current market price is lower now? Any thoughts? Sorry to interrupt the daytrading - will look for a response after the close. TIA. Jeff