well here it is mid day and a wopping 112000 shares of ostk have traded. if shark hedge funds smelled this massive buyin coming they would be all over this thing.
you are partly correct, IPO are too make money, (hopefully) but not to bankrupt the company. Most times the original founders have restriction on when they are allowed to sell and must give notice of same. The objective of the IPO is long term and is suppose to be based upon external auditors, underwritters verifying the statements being issued by the company. The fact the RFX IPO didn't last a few months, had options, was on the NYE, had respectable? underwritters gave a whole different picture than was has happened. w
=========== Flytiger Thanks for the input, like what another elite trader said; the reason why IPOs open so much later, takes longer to get the bagholders lined UP However you comment may be a bit broad brushed, ''all involved''; that stock you mentioned was a garbage volume penny stock. And while some IPOs are jokes so to speak; Investors Business Daily, not making a stock tip, has done some intesesting articles on good fundamentalists,technicals on CME.
Apparently some of these positions include hidden losses that Bennett & Co have hidden for many years- read the attached article
If the assertions in this article are true, then this would be some wicked karma! I've always wondered what kind of positions could have gone so awry and I could only think of FX trading losses. So the assertions in that article do make some sense to me. The story continues to unfold........
the defense for naked shorting has always been.." they're shit companies." Look at Sedona's 2.6bb lawsuit. They document business lost because of weak share price. Look at their website, and you'll see a list of companies they deal with in spite of weak share price. But, what have they lost? I speak to a CEO in MAss. Two companies. 40 employees down to 15. Coming back, blames their problems on A publication getting the SEC to initiate an investigation. You'd know the name, and it'd be eerily similar to someone elses claim. Doesn't matter what size the company is. Can we move paper? CAn we do it w/no risk? I'm just pointing this out, because it's like the death penalty being administered by a mob. This whole thing is like "The Oxbow Incident". But they don't even let the victims write a letter home. I've told the people at Overstock to study Sedona. It's small enough to see the tricks. Stock will trade at the bid but you don't get any. They sit on the offer, and then walk it down in size taking out the retail people. The company doesn't defend itself, because it' s OEM's don't want people knowing they are dealing with what appears to be a weak sister. i understand the stock was $10 at one time. Now, multiply this times hundreds. Now move to listed stuff. If you think this is fair, you need counseling. But, the buyin willhappen. Time is the only variable. Ialways thought the money on Wall St. was in Investment Banking. Turns out it's Stock Loan. Big conf in PB going on. how come it's not on CNBC. Clerks have conferences in Palm Beach? Oh well. I must be crazy. Refco is just the tip. The whole thing goes in shortly.