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This is about Initial Public Offerings.
I recently obtained, strictly via an on-line process,
hundreds of shares of the DLJdirect tracking stock
(symbol DIR) at the IPO price, 20/sh, mainly
because I've been a long time client of DLJ direct.
Although I don't intend to flip or take a short
term profit (DIR ended Friday at 42/sh) does
any one in the group know the Rules
governing support of the stock by the
underwriting syndicate?
I have a concern that the stock's price
might plunge once the underwiting syndicate
terminates its commitment.
However this IPO is unusual in that the lead
underwriter, DLJ, is the parent company of
DLJ direct.
Looking for informed opinions.
Stan R.
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