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Technology Stocks : AboveNet Communications, Inc. (ABOV) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Hanna who wrote (349)	4/7/1999 6:45:00 PM
From: coachbobknight	Read Replies (4) \| Respond to of 835

abov--MMs will bring this down to 70-75 prior to the secondary... if you do not understand why they HAVE TO BRING IT DOWN prior to the secondary, then you have no business trading... i was a banker with alex brown from '91-94... the neophyte who asked about the secondary pricing...it prices at the closing price the night before they choose to offer the shares... institutions are the buyers...institutions will demand a respectably low price...they will not take the risk of buying huge chunks of this secondary unless it is cheap...so the MMS will work over the next 25 days to bring the stock down, and down further until it is cheap enough that the institutions say yes... unfortunately, in the sleazy world of investment banking, this is how it works... abov will start rising the day AFTER the secondary is completed... my guess for secondary pricing is $77 per share...check this post in 25-30 days and we will see... coach knight