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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Hamlin who wrote (4550)	3/17/1999 10:57:00 AM
From: keith massey	Read Replies (1) \| Respond to of 62348

Might find this interesting in the weird department. After a week of trading the stock is at $9.80 from a high of $14 and an IPO of $11.50. The weird thing is that there was $1 billion in back orders and now there isn't even support above $10. By the way, Versus is the people that run Etrade Canada. Versus Technologies Inc V.W Shares issued 0 1999-03-09 close $11.55 Wednesday Mar 10 1999 The National Post reports in its Wednesday edition that the share price of Versus Technology taken public early this week against the backdrop of more than $1-billion fell for the second day in a row yesterday. The shares are trading on a when-issued basis; settlement is on Friday. The share performance has surprised some observers. "If they had $1-billion in demand, then surely they could find $20-million to $30-million of orders to buy the stock at $11.50," said one underwriter. Some underwriters believe once an issue is oversubscribed, the process of building a book takes on its own dynamic. "Investors pad their orders knowing that they will get cut back. So they put in orders for more then they really want." This underwriter said that when the issue was being marketed, it got "so hot that five days back, I could have done 500,000 shares in our system." Others believe the performance is unrelated to the decision to raise the issue price to $11.50 -- $2.50 more than when the road shows started. Still others believe some institutions, for whatever reason, may have changed their views on the issuer. Best Regards KEITH