I can beat you Saturday guys. I got a call from Schwab this morning offering me 100 shares. I must be at the end of the line as about six weeks ago I flipped my Select Comfort IPO shares on the opening day. (I also requested shares in INSP but never got a call, again I assume because of the Select Comfort flip.)
For those questioning why your shares aren't showing in your account, you can expect to wait 5 days for the trade to "finalize" before it enters your account.
As far as flipping, I have requested shares in every IPO since Select Comfort and not once have they questioned my flipping AIRB. Of course that may be the reason I didn't get any INSP shares. I can only assume flipping puts one at the end of the line otherwise my guess is that I would have received a call either Friday or Saturday rather than today.
Any Schwabies looking to get in on the Entercom (ETM) IPO which is expected to price Thursday night?
Re : Any Schwabies looking to get in on the Entercom (ETM) IPO which is expected to price Thursday night?
I'm in for 500. The Schwab guy I talked to said people were calling him up and he was refusing their request because they were thinking Entercom was internet related, which it is absolutely not. If someone is going to request an IPO, the least they should do is download the prospectus and skim through it.
You were asking the other day about Schwab and their possible concern with flipping IPOs. As I said, Schwab gave me 100 shares of Allaire although I flipped Select Comfort. I also requested shares in Entercom and they took my order.
Entercom priced tonight and Schwab called offering me all shares I requested. So I'm thinking they don't/can't track flipping. Ten minutes after my first call from Schwab I get another call from them saying they now see I flipped Select Comfort. It seems I lucked out as they were/are in the process of changing systems and I fell through the cracks. He said they "would not take my Allaire back and I will get my Entercom shares" but they are marking my account as "restricted " for the next six months. So it seems to me, since I will be locked out for the next six months, there is no reason not to sell ALLR or ETM early if I so choose.
I had also requested shares in PerotSystems, to price next week. I guess I don't need to stand by the phone waiting for a call.
From Inside Wall Street.....Investors have continued to get caught up in the internet frenzy, but a new sector is starting to heat up on Wall St. Industry analysts are starting to point to Web device tools companies. A good indication of how this sector will perform this year should come with the IPO of Allaire Corp. (Nasdaq:ALLR) which will be any day now. This software firm's initial offering will be coming through Credit Suisse, so there is no lack of credibility there. It appears as if it will be a 2.2 million share offering for around $15-17/share. Also look for IPO's from Serena, Silverstream, and Innerwoven within the next 90 days. The pulse of the industry is riding squarely on the shoulders of these companies.
StarBase (Nasdaq:SBAS) is one company in this sector that is already currently trading. Recently, trading activity has significantly increased, and in the last two weeks, shares have risen from a 52 week low of around .68, up to a high of about $2.25: roughly a 330% increase. The stock seems to have settled recently in the $1.60 range, but stands to benefit from the increased exposure that the sector will receive with all these IPO's. The big boys are also involved in this industry, including Oracle, Microsoft, and Sun Microsystems. Who knows, maybe we have some potential suitors to buy out some of these smaller players in the future? Have a great week, and good and invest wisely.
Don't know why ANYONE would consider flipping an IPO when it might put them on the s**t list and prevent them from getting any shares on future IPO's for awhile.
I've participated in the following with Schwab:
INSP - IPO'd at 15 and just sold today at 62 ALLR - IPO'd at 20 and trading at 54 1/4 now ETM - IPO'd at 22 1/2 and trading at 28 15/16 now PER - IPO'd at 16 TODAY and trading at 41 now
IF I would have flipped the INSP IPO, just look at all of the profits that I would have missed. I try to work it out so one IPO pays for the other; meaning I sold INSP today to pay for my PER. I've never seen such easy, risk-free money making opportunity ever.