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They may have changed their mind seeing that the ipo could fail if unsold shares keep depressing the price for too long.
I still fail to see how they were failing if shares sold slower than they've actually sold, or why they'd bother to try to manipulate share prices.
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Prices are stable because there is hardly any trading besides the ipo sales. But the bid/ask spread is very wide (85 / 102), and that is not so great. It means when you want to sell you have to take a rather big loss..
Or wait a bit. This is not a problem, IMO, just a sign of a thinly traded market.
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As for the price stability, that is of course the advantage of the way they did the ipo. But the disadvantage of this system is that if the issue receives little demand it can take years before all the ipo shares are gone, and that means the price cannot go up.
Many buyers expressed more interest in a gram-denominated dividend than they did in any particular share price, though. I think the dividend fans are still quite satisfied.
With the "normal" ipo, there is a limited time period when you can sign up for the shares, and as soon as that period ends the stock can start trading freely up and down. The disadvantage is high volatility during the first days of trading.
Mostly due to distortions caused by favored insiders, yes. This has certainly been a refreshing IPO from that point of view.
The advantage is that you know beforehand when the stock will start trading normally.
I'm not sure you've ever admitted anything about DBourse is normal before (well, normal if insiders didn't buy their own shares, I guess). This is progress! :)
In the end it means you have to choose for the lesser evil. Honestly , I prefer the limited time "normal" ipo at the cost of less price stability in the beginning.
I'd agree, but only if I get to be a favored insider! Quattrone just got off, stockbrokers, so it's safe to have favorites now. I am officially available to fill the role. ...
Nobody is sure about this stock.
True. ...
NYSE is not a regulator.
That's not what the Chairman says (or was "overpaid" for!). The NYSE *does* claim to be a regulator, according to articles on (over?)compensation of the NYSE board, it's part of what the chairman is/was paid for (at the moment he gets a dollar).
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Well, let all the stocks on NYSE trade on dbourse style self-run exchanges and scandals might be even more frequent.
It's surely possible (but they'll have to work at it!).
On a self-run exchange the door for abuse of many kinds is wide open. That doesn't mean every company management would abuse it, but opportunity makes the thief as it is said.
Exactly why I don't trust NYSE's (self-run) middlemen, Danny!
... Maybe not TGC, but the possibility to enter fake transactions is wide open. How many ipo's of this kind would you need before you have some not so honest management taking advantage of it? You just "pump" the price of the stock with fake transactions that never happened inorder to seduce investors to buy up this "hot" stock at ever higher prices. Some sharks will not see that as a waste of time.
Maybe this is why they've not allowed other share issues?
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Nobody forces you to trade your stocks on the NYSE, just go to an eletronic trading platform where you have no middle man.
Sure, like DBourse.
In my brokergae account I have complete choice whether I want to buy (or sell) on nyse, instinet, island,... And nobody forces you to buy mutual funds.
I never said they did, I only commented on scandals involving (once again...) favored insiders getting a better deal than the little guy.
...A middle man on the NYSE is just making a market in a few stocks, he may be honest or not so honest. He is not in any way different from an exchange provider that sells you e-gold, pecunix, etc...
No, he has a monopoly on that stock (Muriel Siebert, to her everlasting credit, wants there to be competition, but right now there is not).
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So, if you are in favor of independant market makers for e-gold, then I don't understand why you have problems with the middle man on NYSE
Apples & Oranges, see above.
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No, if you've got the grams and the offer is out there and you make a bid, things tend to happen instantly on DBourse, trust me...
How it can go instantly if there is no automatic funding/refunding as you say?
Funding takes time, but once you've got grams in their system a trade is instant when you request it, if a bid & ask match. JMR
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