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

To: Zoro who wrote (112)	4/28/1999 3:00:00 PM
From: John F Beule	Respond to of 589

Quiet period for analyst to initiate coverage. Also 30 days before you can buy a "new issue" on margin. IPO price was $21. opened at $30. Daytraders are controlling the direction of this stock. In the meantime when the stock went from $48 to $30 in one day, brokerages were buying the stock back and keeping in their inventory. When spreads favor buying the stock (IMO 30 days after IPO) Stock will move up with momentum (due to coverage and press), and the brokerages will make loads of money. All IMO