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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Kirwin who wrote (8709)	5/23/1999 4:15:00 PM
From: Carl R.	Read Replies (1) \| Respond to of 17679

As long as they keep selling the IPOs at the upper end of the range, and the reprice upwards, and they increase the size of the offerings, it is a good sign. The other thing to watch is how much the stock goes up after trading starts. "Broken IPOs" (i.e. ones where the price falls below the selling price) are a very bad sign. At this point I'd call the market still healthy as we still see offerings being priced at the upper end of the range, and very few "broken" ipos. APLN was close to broken on Friday, though. With 93 IPOs scheduled to suck $6 billion out of the market, it will be interested to see if that doesn't put a pretty good dent in the liquidity in the market. I personally think the IPO market will get a lot tighter sometime in the next several months for that very reason. As for the ownership percentage, most of the IPOs seem to be only offering about 10% to 20% of the company to the public. The reason for offering so little at first is to avoid the IPO "haircut". <VBG> Also by limiting the initial float they help make sure supply is less than demand. Carl