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VA Reprices Again
Quite a number of people have written in with the news that VA Linux Systems has re-priced, this time setting their range at $28-30 per share. People have been submitting e-mail reports from E*Trade, so if you are getting anything through there, you must re-confirm. For the friends and family program, remember that you will also be contacted to confirm as well.If you are part of the friends and family program, you can pre-emptively re-confirm by calling the phone number in the initial packet. Otherwise, phone calls will begin 8AM-4PM EST on Friday.
unfortunately, i must inform potential investors in the copyrighted undistributable open source natalie portman and open source drew barrymore project of the increase in stock price.
this increase in stock price will cover innovative new features in the copyrighted undistributable open source natalie portman and open source drew barrymore.
to quell any nervousness in potential stockowners, i will offer a glimpse into this stunning new technology by asking one simple question:
how much would it be worth to you to have copyrighted undistributable open source natalie portman and open source drew barrymore ride you like a greased pig into the bedroom and love the shit out of you?!
as you can see, the rewards will be handsome indeed.
thank you.
I can build similarly badass systems, in equally badass rackmount cases, for far less than VA charges.
I fully support them raising the IPO price to something more reasonable. It it of significant benefit to VA Linux to do so and, in the long term, it is a good thing for investors becaues it give the company more capital for growth. It is unfortunate that they had to do it at the last minute, but that isn't entirely their choice either. Pricing IPOs is a tricky game; too low and the company doesn't get the benefit they could have, too high and the could flop. Often the build up doesn't begin until after it's first price range is filed. Now, it is unfortunate that it makes their 100 share directed share program far richer than it was initially. Perhaps they should have allowed people to buy less shares. I can't make a judgement on that since I don't know all the issues involved.
However, if you want something smaller and more innocent, roll your own site. In fact, you could focus on stuff YOU are interested in, there are always more people out there and /. doesn't have a monopoly ...
Once you make your own site, then put the URL and a little teaser in your sig about it.
Why make your own fun, when you can buy it for cheap?!
AAAAAUUUUUUUGHHH!!!!
...finally got through...*whew*.
HAHAHAHA...you got moderated down! LOSER!!!!
HAHAHAHAHAHAHA...crybaby bastard!
Market cap. is short for market capitalization, and is exactly that - it's the value of the company as given by the share price (market). It's simply the total number of shares outstanding times the stock price. When the market is sane, there are rules of thumb that relate share price to "real world" things like sales or earnings growth (e.g. P/E = annual earnings growth rate for a fairly valued growth stock, with a P/E premium for fast growth rates), but the bottom line is that share price (and hence market cap.) is whatever people are willing to pay.
So in the case of VA Linux, 39.7M shares (4.4M being offered at the IPO - both figures from the prospectus) times $30 would give them a market cap. of $1.19B. Of course it's really going to be quite a bit higher!
Here's the latest info from ETRADE (at the LOGON screen) on the LNUX IPO pricing:
"12/09/99The Va Linux Systems, Inc. initial public offering has been priced at $30 per share. E*TRADE is no longer accepting change or cancel requests for Conditional Offers in this offering. "
Scott
One note so people don't get confused. It is no longer necessary to purchase shares being traded on the market in round lots of 100. You can purchase or sell any number of shares. For IPO shares, you do need to purchase in round lots of 100. I think this is what the poster was trying to say.
I E-mailed them and they said so.
This *does* suck. I can still afford it, but that pretty much wipes out my checking account. If they raise it again I'll have to take some drastic measures to get cash.
Wishing I hadn't recently sent a big check to my other brokerage,
Micah
12/09/99 The VA Linux Systems, Inc. IPO has been priced at $30 per share. Shares are currently being allocated. Accounts that placed and reconfirmed Conditional Offers should check their account messages for allocation notices later this morning.
Cheers...
I don't think super moderators would be the most efficient solution since I could easily create multiple posts faster than you could probably moderate them (all I have to do is figure out the CGI parameters that the server is expecting for a post and keep sending it). Something like this could be easily handled by preventing multiple posts in a short period of time from the same IP address.
/. made it such that you can't post more than one comment every 90 seconds, this kind of abuse would be time consuming for the abuser, but would not affect most people that contribute to the discussions.
If
And so far, no one has fallen for the trap by spamming my mailbox.
They should have known this would be a hot IPO and figured out earlier how much they could get. I have a feeling this is going to get a lot of people ticked off at them...
I think you're joking, but I'm not sure. There's nothing to be suspicious about at all. An underwriter will price an IPO as high as they possibly can (i.e. that they think people are willing to pay for an IPO). Remember that an IPO is typically a very risky investment, because the company is usually real new or in need of money to continue operations (and usually not profitable)... If they raise it too high, people won't buy it. -thomas
I'm not buying at this price. It's just a bunch of web sites. Sure, some of them are cool, but it looks like banner ad prices will be trending downwards. I bet it goes down to $30, maybe even $20.
Wondering when I'll be able to short ANDN,
Micah
Can you set a limit order on Etrade to a stock that hasn't gone public yet?
Dude, any programmer worth his/her salt should be able to get a decent job in the current job market (unless you're still in school, then I apologize).
I'm a programmer..and I'll try to buy some shares on the open market.
Maybe you need to shut the hell up. Maybe some people think that this guy's comments really add to our discussion of IPO's and VA. Maybe his opinions are every bit as valid as yours...
Unfortunately, there's so damn many of these messages that moderating them all would use up all of one's moderator points, and moderating only one of them would have no effect. Perhaps this person has found a loophole in the moderating system.
Well, perhaps there is room for shennanigans.
The beef this time is that since you have to buy 100 share lots, the letter-getters originally thought they would need $1300 minimum. Now that's looking like $3000. Big difference... it is unfortunate, but well... that's the market, I guess. Sucks for those with small pocketbooks.
It's interesting - this is a pretty gutsy move by VA, they really are betting that the Linux hype this week will continue, I guess. How big is their offering? They may actually get more out of their IPO than Red Hat did...
----
Chris is there any way we can confirm our shares beforehand? I know I would sleep easier.
I wish I could have gotten in on it. These Linux IPOs are making me look like a financial wiz or something to my family. Of course, Linux is (almost sickeningly) THE buzzword for investors now.
If this trend continues, then there will be a day when people participating in such a program end up loosing, at least over the short term, when the stock drops below offering pricefor a few months or longer. We will see how people's tunes change then. Unfortunately, some company may get a lot of undeserved bad publicity if this does happen to them.
I don't think that is likely to happen with LNUX. But treating it as a free money handout is bogus.
Welcome to the law of supply and demand. Clearly there is intense demand for LNUX stock, and I can't blame VA Linux one bit for boosting the offering price -- why should they leave the money on the table?
...
All I can say is if I had the chance to get 100 shares of LNUX at the offering price -- even if that proves to be $35 or $40 or more -- I would do whatever it takes to get the money together, short of taking out a second mortgage. There is absolutely no doubt in my mind that your son's college fund will be far, far better for it.
Of course there's risk involved in any stock and IPOs are particularly speculative, but I've watched a bunch of IPOs since before RHAT and those that price way above their initial range have without fail gone absolutely nuts in the aftermarket. Sycamore Networks (SCMR), for example, priced at $38, opened at $280 (that is not a typo), skidded within an hour or so to as low as a mere $180 and has climbed ever since. It closed today at 253 1/2.
In any event, make your own decisions and best of luck to you. I'm hoping to pick up maybe 20 shares if I can afford it in the aftermarket and hold on for a while. Just gotta have a stock with the ticker LNUX
Freedom's just another word for nothing left Zulus
The best way to do it is an auction system (like Andover did). You indicate the maximum you will pay, and if the price comes out equal to that or less, you pay whatever the price comes out to be. If the price is more than you are willing to pay, you don't have to buy the stock.
Short of that, adjusting the price helps clear the market. Think LNUX isn't worth $28 per share? Don't buy it. Someone else is willing to pay that much, and the seller (the company) is better off selling to the highest bidder.
The 100-share block size does kind of suck, though. It's a shame that people are getting frozen out over that. If you're genuinely a poor student -- I empathize, I've been there. But if you have $5K but it's just not available in liquid form -- tough cookies, you should prepare yourself now for the next Linux friends and family program.
No kidding, I want to do it but I will be in debt until I decide to sell it... Man, why don't they give the "friends" a deal at the origional $13 quoted? I don't know if that's legal or not, but I'm guessing a bunch of guys who devote free time to develop software that these guys use are going to have a tought time coming up with $3k.
AFAIK, you can only place a limit order on an IPO for the day. I'm on Wells Fargo's trading accounts so I can't speak for E-Trade (and E-Trade's damn system won't let me log on OR send me my forgotten password until I know my "secret word." Dammmit what if I forgot that too?? Just email me the damn thing!). You cannot place a Market order on an IPO.
-----
Linux user: if (nt == unstable) { switchTo.linux() }
Those who laugh at you for you having a Mac.. are the people who constantly call you to fix their PC.
*Unofficially* I was told that trading would start around 2:00 p.m. EST this afternoon (Thurs.)
The word from CNBC (in my xawtv window) is that LNUX goes public at 12:40 Eastern. The anchor (Sue Herera) just said (@12:28 ET) that "this is shaping up to be the biggest IPO ever."
(Disclaimer: I have been allocated 140 shares. Hence my interest...)
My Blog. Sela Ward can sell me long distanc
I saw that one coming. bought last February at 4 1/4. Unfortunately I sold it last week at 19 1/2. Oh well. I still did well, just not as well as it could have been...
CNNfn) - Red Hat Inc. struck a deal Thursday to ship Veritas Software Corp. s storage management software with its version of the Linux operating system, sending stock of both companies sharply higher in early trading. see www.cnnfn.com for more details
I just called them (at 9:15pm PST) at the 415 number, and there was someone there to take phone confirmations. In addition, you now have the option of getting 140 shares. The price is expected to be $30.
Good luck, all!
I can already see it, a repeat of the Red Hat/ Etrade shennenigans!
like it's so hard to scroll down a little bit.
I dunno, it seems weird to me that companies that are involved with something so open source are being more and more commercialized- Jikuu #reconnect
hello. Not only am I the C{EIFO}O of Pineapple, Syphilitic Pudding, Inc., but I'm a customer too.
After recently unleashing the latest technological innovation (recursive parametric normalized case structures) for the eponymously named operating system of the next generation , I decided to create a business utilizing this stunning new operating system. The business is called MansTreta.
Manstreta is an online service that allows women of all ages to order men (Mans) and three (treta) beef jerkey sticks all at the same time. This service capitalizes on 2 of the biggest commodities that we enjoy today -- men and dried out beef.
My Chief Scientist, William Shatner, has volunteered to be the first person sold on the service. He was also generous to allow us to sell his toupee, which has the same molecular structure as beef jerky and almost equivalent nutritional content.
The Pineapple, Syhpilitic Pudding operating system should really shine in this type of service orientated enviroment. ZD Labs has assured us that the operating system scales to handle on the order of 2.5billion transactions per second, or 47 per hour depending on the tide. The folks at ZD Labs appear to be so honest. It is refreshing. You would think that they would be swayed by the advertising dollars that they receive from the very companies that they objectively cover, but for some reason they are above this.
Stay tuned for further exciting news.
C{EIFO}O of Pineapple, Syphilitic Pudding, Inc.
At between 250 and 270.
Must be nice.
Don Negro
Don Negro
Perl 6 will give you the big knob. -- Larry Wall
I have seen reports of both. One from reuters
saying that they moved trading up a day to thursday and others saying they should proce tommorrow and trade friday.
Anyone know for sure?
Malice95
Current message at ETRADE login screen (approx 12:30 pm EST):
"12/09/99 The VA Linux Systems, Inc. IPO has been priced at $30 per share. Shares are currently being allocated. Accounts that placed and reconfirmed Conditional Offers should check their account messages for allocation notices later this
morning. "
Scott
>>I actually "called it" and told everyone to buy CORL at 11 3/8.
Heh Heh -- I bought 1100 shares of Corel at 2 and 1/2 last year... been sitting on 'em ever since.
Of course, if I were really brilliant investor, I'd have mortgaged my house and bought about 50,000 shares..... oh well...
Here's a company that has a solid revenue source and is closer to it's valuation.
I wonder if they're going to be buying up companies in 6 months.
-sometimes the majority only means that all the fools are on the same side
WR Hamblect is taking reconfirmations but *not* changes... and they have severly oversold according to an account rep tonight. Since they don't do lottery, unless you were buying a lot, have a good trading history or a lot of cash in your account don't expect to get shares through Hamblecht. And if you tried to sneak a change in (I did, dumb, I know) you'll almost certainly get a rejection.
F /...
The best thing to do in such a case is be there the second the market opens. Good luck.
---
Openstep/NeXTSTEP/Solaris/FreeBSD/Linux/ultrix/OS
--- I do not moderate.
Now I gotta put even MORE money into the brokerage acct. Rumor is they start trading tomorrow. I'm sure this doesn't sit well wil a LOT of other people. Not everyone has the financial resources to keep up with this runaround. Hopefully they will wait til next week to trade, give us some time to secure the necessary funds. Or I could be dreaming.
The only way a stock makes you money is if you sell it.
I'm guessing you bought during their 1997 decrease.
While they have been going up since then, it wont go forever.
Just my 2 cents of info you probably already know.
- Hugh Buchanan
- Userfriendly.com
From: valinux@db.com
To: valinux@db.com
Subject: VA Linux Directed Share Program
Date: Wed, 8 Dec 1999 19:22:52 -0500
Importance: high
X-Priority: 1
X-Mailer: Internet Mail Service (5.0.1460.8)
The confirmation of pricing and your share allocation of VA Linux Systems
will now be Thursday morning at approximately 7:00 a.m. PST. We will be
contacting you at that time. It will not be tonight as originally planned.
Can E*Trade users get at this IPO like they did RHAT, ie. >100 shares?
Did any of you get an offer to participate in Andover's IPO? They could have offered it up to those with the most /. karma points.:-) I wonder if MEEPT bought Andover stock?
I wonder if my (and another comment) mentioning Andover makes the folks here nervous given the restrictions during the IPO?
Is an IPO the stock market equivalent to a First Post?
So many questions, so little beer.
Last week, it was $10 - $13 a share. Monday it was $21 - $23 a share. Today it's said to be $28 - $30 a share!? I mean, could some finance person out there please explain why VA Linux is doing this? I mean, are they seriously concerned that $44 million won't be enough and that they need $120 million now? Or are they just milking what seems to be a good IPO time? (due to examples like Andover.Net and Agency.Com?)
I've had to have my father FedEx me money twice this week and now it'll be third just so I can poney up the cash.
Oh well, I guess you gotta have money to make money.
You should never take life too seriously - You'll never get out of it alive.
That's the problem with it; it's artificially inflating initial interest in the stock. If the IPO had been announced at $30 initially, do you think there would be as much hype around it? I'd guess not. Sure, it'd still be an OK buy, but it wouldn't skyrocket the way it will with all this hype.
as if using Linux wasnt enough proof, and the fact that Linux outscales and outperforms solaris, irix, hpux etc...now the final proof is soaring stock prices of RHAT and VA etc.
SUN stock is going down, SGI stock is at $2 a share, only Linux has the Enterprise clout for the next millenium.
what more proof does anyone need?
Linux, the choice of a GNU generation
This feels like something out of a bad Star Trek episode!
This poster is a fake. Notice the period at the end of his name.
My user # is 57473.
(Man. First Bruce Perens and now me?)
This poster is a fake. Notice the period at the end of his name.
My user # is 57473.
I happen to be a network architect at a firm that uses a fair amount of VA hardware. Here is the main difference, with Dell you get okay hardware, Gateway and Micron you get mediocre. On our VA boxes they are PURE POWER. And they work 100% out of the box. From the time we get a new server to the time its operational and secure is usually about 3 hours for us now (got it down pretty well). Need a database server with 6 NICs in it? No problem, VA does it (might I add the damn thing looks like the sandcrawler from star wars). Need a bunch of high powered SCSI web servers with 3 nics in em? No problem there either (we have 4 of those, they're older 500's). Its not a case of being a desktop system. They aren't desktop systems. We have 1 va desktop system and it works well, but its not what they're designed for. If you can show me a dell or a gateway that can actually challenge one of these that I might agree. But VA boxes are simply awesome. Not to mention the support, they botched part of our config the first time and paid for the next day air to and from (lots of $$ for 4 servers). When I want a box that I need to tinker with I'll go for a cheap dell box (or some knockoff) when I need reliability at work we get VA.
My Slashdot account is old enough to drink...
Lemme tell you a story about a man named Corel,
Poor java-neer barely kept his family fed,
Then one day he wuz shootin' at some food,
And up through the ground come a bubbling LINUX,
LINUX, that is - black gold - Texas Tea.
Java is selling a promise of what might be.
LINUX delivers now.
I say "stabilized" because things have been that way for two minutes, which is all the stability you get these days.
Congrats all who were in on it. You just made a bunch of dough.
The nice thing is that they are letting people buy 50, 100 or 140 shares on the affiliates program. I was worried that people who couldn't come up with $3000 would be hosed. Hehe... I confirmed my 140 shares just now.... wheee!
Crazy. I went to buy some post-IPO, but when i logged onto e*trade, i found it already trading at $300!!!
jeez. outta hand. I'll put my money elsewhere (and make plans for debian or something).
how true!
:-)
but corel was one of "those stocks" that just kept popping into and leaving my mind up until a month ago. i was along the lines of "what have they done lately?" and "what are they going to do next?" couldn't really answer those questions at the time.
all the best of luck with corl for you, though, AC! your current 1500% is a truck-load better than the 300% my friends and family got in on!
-m
nobody cares, you damn, dirty hippie.
If Deutsche Banc Alex. Brown hasn't contacted you yet to confirm your directed share program allocation, they are still in the process of doing so, so there is nothing to worry about, right?
Just checking... they are understandably a bit difficult to get through to right now.
How the hell are people supposed to get on this when the damn stock opens at $300?!?!?! I put my order in around 9:00 a.m. this morning to buy until the price reaches $50/share.. surprise!! the stock opens at an astronomical price!! Hell i thought I was rich when I came in to check the stock price.. NOPE.. the stock never opened even close to the priced number.. this is stupid. How can anyone get shares before the thing opens at a ridiculous price?
-----
Linux user: if (nt == unstable) { switchTo.linux() }
Those who laugh at you for you having a Mac.. are the people who constantly call you to fix their PC.
Why shouldn't they have a bigger IPO than Red Hat?
They make more money (AFAIK) than Red Hat, I'd rather invest in a company that doesn't lose millions of dollars every quarter.
That's not to say that I wouldn't love to get in on Red Hat now, because I see them going far...
but I would rather invest in VA.
Anyone want to lend me $3000 or so and their letter?
Devil Ducky
MY peers would get out of jury duty.
If you have realtime stock quotes, use them.
LNUX is now available at hugely over-inflated prices.
Summary: IPO Priced at $30, Opened at $35,
immediately ( 5 minutes!) soared to 320.
As of this writing, it's back down to 240, but
IMHO still insane. I'll sit this one out, thank
you.
- Kevin (kjw, but I seem to have lost my passwd)
I just reconfirmed through WRHambrecht (though they are not a primary underwriter, they are associated with Hambrecht & Quist, and thus have some shares to allocate amongst their clients). I placed an indication of interest with them for Cobalt, but didn't get any. I would really like to get some shares of VA, but I am still pretty ecstatic about Andover.Net's performance, so if not oh well.
Didn't make the cut. I even bothered the E*Trade folks to double-check that they hadn't cut me out due to a snafu in my displayed cash balance (it's out of date, due to a sweep into the cash account this morning), or that they might have mishandled my conditional offer. I'm satisfied (at least for now) that neither of these occurred. I did get one tidbit of info, though. That is that E*Trade only had about 220,0000 shares allocated to them (5% of the total offering) to give out to their almost 1 million subscribers (not all of whom put in conditional offers, obviously). This means that if everyone that got an allocation got 100 shares, that only 2200 offers were accepted. Geez...
A member of the community doesn't have to invest in these upcoming IPOs just because they are offered a chance to do so. It is still up to that individual person (or company) to research the company and discover for themselves wether or not to invest their hard earned cash.
And eventually that scenario will happen to a LINUX company. It will happen when a bunch of companies jump on the linux-ipo bandwagon like dotcom companies are doing now. When the first few companies that do it without any product whatsoever and get caught by the public their stock will crash. And at the same time bring the rest of the good linux stocks with them, though hopefully not for long.
Devil Ducky
MY peers would get out of jury duty.
If you have yet to confirm that you would still like to participate, please call us at 415-XXX-XXX ASAP or email us a response to this message. Again, please do NOT call this phone number if you have already spoken to a representative and confirmed your shares."
So fucking call them already. And if the line is busy, camp on it all day if you have to.
So much for all the open source feel good doing it for the love of the technology and intelectual challenge yadda yadda yadda. Face it, after the smell of money wafts from Wall St. to Silicon Vly, it's never going to be the same. Was a wild ride, now it's time to watch it devolve into everything annoying. I mean, Andover.net being worth nearly a billion dollars on 2 million revenues, a company with PERL as the ticker increasing 10X in a day, and VA Linux being repriced four times before going out? The communitarian spirit is dead. Long live the community...
Actually, he got moderated down too many times within a period of time. Who could ever grow tired of ruining a karma whore's life? Karma whores are as useless as trolls. Instead of writing comments which they know will piss people off, they write comments that they know the stupid moderators'll agree with. In my mind, they're the same thing, except that trolling at least shows some form of intelligence. Also, I don't think anyone's life is that centered around your own that they'd care whether you were the real author of those messages or not....
Dang!
While I understand that the IPO amount can change at any time, it is getting very frustating just attempting to keep up with the pricing changes, especially attempting to wire funds back and forth to cover the opportunity to get into the IPO at Etrade!
According to Etrade they expect this to price in the morning, EASTERN time! Which means the banks will still be closed here on the West coast (Calif)!
Yes, of course, it would be nice to have enough funds just sitting about in an Etrade account, BUT some of us just dont have enough 'idle' funds.
Fact is, the Etrade Broker said that they're not even certain if the price will not increase AGAIN. I wouldn't doubt it. MAYBE VA linux should have gone OPEN IPO?
Thank you for this info - called and got the same info. I would have completly missed out otherwise. I think I'll go in for all 140.
(Man. First Bruce Perens and now me?)
This poster is a fake. Notice the period at the end of his name.
My user # is 57473.
Repricing is good! Yes, there's lots of hype value right now, but there is also something seriously flawed with an IPO that jumps to 10x its opening price on the first day of trading and stays up there. That means the underwriters didn't do their best to get money for the company.
The real game isn't about making a cheap buck for us lowly investors, its about financing a company. VA is going to have a huge amount of cash after this, it'll be interesting to watch what they do with it.
I strongly suspect that people at Slashdot are deleting messages relevent to its IPO today. Sounds like good news in general, though since it closed above $60 per share. I wonder whether the hosting of comments by readers regarding the Andover.net falls under SEC quiet period scrutiny. How closely is this "open forum" being moderated? I suppose if you're reading this message, they were honest enough to let some of them through. ;)
What are the chances that a ton of Andover.net investors will flip their shares for VA Linux tomorrow? That has GOT to be on Malda's mind tonight. Speaking of whom, congratulations on the 143k shares there Malda. Remember me when you come into your own...
MKC
http://tinyurl.com/4ny52
I was wandering if we have an account with ETrade what the deal is on getting some shares alotted. Is it still possible to get shares? What are th pre-req to gain a piece of the pie?
The market will definately be greater if they .config file, have them compile the kernel put it on.. all my other configs and a list of my own packages + their packages to install.. that'd save a lot of time.
do things like let you choose what packages you
want installed.. well not greater but it'd be more
convenient if I had to order 30 servers if I could ahead of time give them a rpm with my
"And how can this be? For he is the
and btw.. though dell's servers are in great
cases. they're way overpriced compared to
va boxes.
"And how can this be? For he is the
Everyone seems to be quite anxious to jump on the IPO bandwagon to make a quick buck, but get mad when the system (E-Trade in particular) does things that seem unfair. There are a few things to keep in mind when dealing with IPOs:
1. A company can raise its initial offering price. Period. If you are serious about investing, you'll have to have a respectable sum to invest in the first place. Since you have to buy stocks in blocks of 100 (yes, your trade of 37 shares of stock is matched up with someone else's 63 shares thanks to modern technology), plan to have enough cash on hand to buy at least 200 shares. That way, if the range increases, you can still buy a block of 100 shares and use any remaining money to pay for an odd amount of shares when the stock hits the market. It takes money to make money, and IPOs often raise their price ranges when there is a large amount of interest. Which leads into...
2. A quick bit of advice is to avoid IPOs that lower their ranges. Another tip-off to an IPO you might want to avoid is one that extends the time period of their IPO because a small amount of IPO shares have been allocated and the rest is still waiting for a buyer. After all, the price of IPO stock is initially driven up by the demand of everyone wanting to buy their share of the sure-fire performing stock.
3. E-Trade is not a brokerage firm... at least not in the traditional sense. They aren't obligated to call you and let you know that you need to reconfirm your IPO bid (though they will try to contact you through as many as 5 different e-mail addresses). You need to stay glued to E-Trade the two days prior to when the stocks initially hits the market. The first day is to catch that two-hour window with E-Trade to get in your IPO bid for the stock in the first place, and the second day is to reconfirm your IPO bid (which, unfortunately, happens quite often with the good stocks).
4. With E-Trade, make sure you read their IPO readme. Also, feel free to call E-Trade directly at 1-800-STOCKS5 to get the scoop from a real person. It will be about a 30 minute wait in the hold queue, so be patient.
5. Those 100 share block-o-stocks are delegated by a lottery system when there is more interest than supply for an IPO stock. Even if you have the money set aside to purchase stock, you may not get it. It really is the luck of the draw in some cases.
Nobody ever said IPOs were an easy way to get money, only a quick way. Still, the payoffs are worth a little time spent in preparation. Take some time to learn the system before trying to jump into the deal of a lifetime and you'll end up with much better results.
>
Since when did E*Trade became a LNUX underwriter?
VA Linux has some 'splaining to do.
--
(Man. First Bruce Perens and now Enoch Root. ?) This feels like something that would happen if i stuck the lid from a steel can in my anus! This poser (yes poser) is a fake. Notice the lack of a period at the end of his name. Also notice his karma whoring ways and bad personal hygene. My lucky lotto numbers are 14, 25, 28, 78, and 91
**Damn me**! From now on I'll read Slashdot a lot more carefully :-). No, I've been too busy in the past week.
You may have to buy THIS stock at THIS particular IPO in blocks of 100, but it ain't necessarily so for stock markets in general (although it is certainly a common convention). For example, BRKa traded 310 shares today. BRKb traded 16,660.
Slashdot is entertaining like pro wrestling is entertaining
You're definitely an idiot man.. that 4200 bucks would be 30k today.
You have to be joking. VA Linux has NO proprietary technology. Neither does Andover.net/Slashdot. These stocks are totally over inflated.
actually, 143K is not that much, based on the value /. has added to andover.
/. itself is worth more then 50% of the rest of andover.
/. alone is fair value based on potential.
I beleave that
My fear is that slashdot will get neglected ammong all of the other projects in Andover. other then that I think 60$+ for
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I read your post. I have to agree.
ER has one of (if not the) highest karmas on Slashdot. He must be deliberately trying to lower his Karma for some reason...I wonder why.
Daniel.
My mistake for being suckered into this, I can see now that it is an impostor :(
Pretty stupid tho'
Daniel.
Well, you are a fool, son. There were plenty of developers who didn't get it, and merely had to wave the "Here I am!" flag, prove what they did, and get invited. Don't you read slashdot more closely?
E*Trade probably got its share allocation via its partner E*Offering, which is an investment bank.
AFAIK E*Trade has nothing to do with the underwriting; it's just buying a hunk of shares as an investment (and passing some on to its customers [mainly those "Power E*Trade" people] at the IPO price as a perk).
Here's E*Offering's page on the VA Linux IPO. Nowhere under "Underwriters" will you see the name "E*Trade" or "E*Offering".
My Blog. Sela Ward can sell me long distanc
ROB MALDA NAKED AND PETRIFIED! is an opinion, and pigs might also fly out off my ass. The likelyhood of either being real or important is nonexistent.
If you got the letter and can't scrounge/borrow/beg $3000 from your family, friends, neighbors, or ex-spouse, you WILL regret it. This is like FREE money. LNUX is *guaranteed* to at least double tomorrow (may well triple or quadruple..). The market is CRAZY for Linux right now. Couldn't have picked a better time for VA to go public...
I'd place the odds at around 30:1 that LNUX will skyrocket to 300-400% (right around 100) its IPO price during trading tomorrow.
You killed my chances of getting FRFP!
You bastard!
-cow
ENOCH ROOT NAKED AN PETRIFIED!
Folks, if you are like me and had no way to place a pre-IPO order, you are shit out of luck on this one. The hype machine has really destroyed the hopes of the little guy getting in on this one. It's just another IPO where 99% of the market is left out (ya gotta love brokerage scamming of IPOs...).
On CNBC this evening, LNUX was the hot topic. It's expected to OPEN AT OVER $100!!!! The bell is gonna ring, and no one will be able to get this thing cheap. I think this really sucks balls. There's no way I can afford a stock that's $100-???. Yeah, I'll take...uh...ONE share, thanks...
Oh well. Maybe someday my fortune will come through my own company and I can stop getting all worked up over things like this. At least I bought AAPL at 16 and still hanging in there....
Congrats to all you schmucks who got it. I can only imagine the frenzy tomorrow.....
Does that make Rob worth 8-9 million big ones? Cmon people lets all track Maldas worth through the quiet period... you know he must be bringing thr legs in tonite!!!!! Good for you Rob.All the hard work payed off.
I Am the Walrus
I am he as you are he as you are me and we are all together.
See how they run like pigs from a gun, see how they fly.
I'm crying.
Sitting on a cornflake, waiting for the van to come.
Corporation tee-shirt, stupid bloody Tuesday.
Man, you been a naughty boy, you let your face grow long.
I am the eggman, they are the eggmen.
I am the walrus, goo goo g'joob.
Mister City Policeman sitting
Pretty little policemen in a row.
See how they fly like Lucy in the Sky, see how they run.
I'm crying, I'm crying.
I'm crying, I'm crying.
Yellow matter custard, dripping from a dead dog's eye.
Crabalocker fishwife, pornographic priestess,
Boy, you been a naughty girl you let your knickers down.
I am the eggman, they are the eggmen.
I am the walrus, goo goo g'joob.
Sitting in an English garden waiting for the sun.
If the sun don't come, you get a tan
From standing in the English rain.
I am the eggman, they are the eggmen.
I am the walrus, goo goo g'joob g'goo goo g'joob.
Expert textpert choking smokers,
Don't you thing the joker laughs at you?
See how they smile like pigs in a sty,
See how they snied.
I'm crying.
Semolina pilchard, climbing up the Eiffel Tower.
Elementary penguin singing Hari Krishna.
Man, you should have seen them kicking Edgar Allan Poe.
I am the eggman, they are the eggmen.
I am the walrus, goo goo g'joob g'goo goo g'joob.
Goo goo g'joob g'goo goo g'joob g'goo.
Man. First Bruce Perens and now me?)
This poster is a fake. Notice the period at the end of his name.
My user # is 57473.
They have been allocated shares by an underwriter...at least that is my understanding.
-Michael [Remove two parts of address to mail me]
Came on Hemos, stop announcing every news about bogus IPOs. Or you think most of us care?
I'm afraid "investors" is the wrong word for many of those running up the stock prices of any company with even the most remote Linux connection . They're daytraders, momentum players, speculators, gamblers -- but they're not "investing" in these companies because they believe in Linux. In some cases what these folks are doing is a lot closer to a legal Ponzi scheme.
I have very mixed feelings about the Linux stock craze. On the one hand, I like to invest in genuine Linux-related companies, to support the movement by backing the companies that support it (as I'm not a coder, the only other ways I can really support open source are by using it, especially on servers at work, and talking it up). OTOH, what happens if the bubble bursts? Will people see the current craze as having been a speculative frenzy and leave it at that, or would a boom-turned-bust have graver implications for the open source movement and the companies at its forefront?
Freedom's just another word for nothing left Zulus
That's all I want to know. What day? I don't want to get caught off-guard again, like with Andover.Net, which went public without a date on any finanical news site I looked on. Yahoo Finance's last feature on ANDN was on Sunday and surprise! the stock was being sold Wednesday.. by the time I found out it was already at $62/share and the day was almost over. How do you find out when the shares are supposed be sold?? All they ever say is, "the stock offered to the public __this week__ should raise over $XX Million... " blah blah.. goddamnit.. just tell me what DAY! Can't believe how ambiguous it is!
-----
Linux user: if (nt == unstable) { switchTo.linux() }
Those who laugh at you for you having a Mac.. are the people who constantly call you to fix their PC.
I got an email from valinux@db.com (after I complained about the price increases) that they will be letting you choose between 50, 100, and 140 shares.
Like subject says, DB will let you get 50 shares if you can't afford 100.
Finally some hackers have hit a huge gold mine.
/. GO!.
And they deserve it. My only wish I have is, that they shall stay as they are (a difficult task with such a lot of bucks in the back).
And this again shows that eveything.com _is_ possible.
Go
I don't follow you. But if you want, you can email me. My email is shown on my user page.
Yes, but remember that it's not just the cash they raise at the IPO, but the value of the stock in the months following also matters to them, since they presumably will use it for aquisitions.
If the stock rises significantly after the IPO, then investors will feel pretty secure and will likely tolerate the large price swings that are likely to happen. If, OTOH, they get greedy and try to squeeze all the juice out of the IPO, then investors may well bail out, particularly as many are probably in it just to stag the IPO (and stay in iff it's rising).
This whole Linux stocks craze is somewhat of a self perpetuating myth. If LNUX gets a good launch and rises significantly after the IPO, then it will likely gain mind share as a Linux stock and continue to do well. OTOH, if the IPO doesn't do so well, then it's possible investors may reconsider or take a harder look, and decide that it's really a Dell, not a RedHat.
While I'm sure the IPO will be a success, given what appears to be insane demand, I just wanted to make the point that it's not in their best interest to "market price" the issue - they need to leave something on the table for the IPO to be a success, which is equally important.
My theory: They reckon their stock's worth at least as much as Red Hat's. Red Hat's is trading almost at the $300 mark. However, they can't just reprice to $300 per share, at the start, without some people being mightily suspicious. So, what they're doing is sneaking the price up, $5 here, $10 there, until they reach the same value as Red Hat. And, incidently, avoid the Y2K headaches on the stock market in the process.
Sneaky, aren't they!
It's a small world and it smells funny; I'd buy another if it wasn't for the money; Take back what I paid (SoM)
I'm not comfortable with my limit being right at the upper end of their projected price now, as many have suggested it could likely be a few dollars higher than this...so now I'm considering changing my offer, fewer shares at a higher limit...but then I don't want to screw myself out of shares that I may be able to afford.
If my limit ends up being below the intial share price, am I just plain screwed, or will I have the opportunity to revise my offer? Likewise if I get chosen as "in" but my offer is above the actual price...will there be an opportunity to add more shares?
I guess what I'm asking is...what's a safe and realistic limit?
First VA Linux is not the one doing this, it's
their underwriters. They are the ones in charge of
making the best decisions to pull in as much
money as possible for their client (VA Linux),
without adversely affecting their stock's worth
in the long run.
The reason the stock price keeps going up is
because they are receiving a lot of interest and
hype for this stock. If they left it at $11-13,
it would sell like hotcakes when it starts trading, and VA Linux would miss out on a lot of
that (since they only get the money from the
initial sale to the public). By raising the price
as high as the market will bear, they get the most
bang for their buck. If Be, Inc. had waited until
now, they might have been able to raise their IPO
from $6 to perhaps $12 or $13, which would have
earned them twice as much money (oh well, you have
to take some risks).
HTH
-thomas
Jesus H. Christ!!! Rob! WOW! A Wealthy man as of tomorrow. Maybe that was a mis-print, but if/when these hit $200, homeboy has $28 MILLION. I am starting to feel very ill. Then again, /. has done so much for Linux, it's certainly deserved.
At leat any of you could have gotten in on this one... Hell, it went up over $5 today alone, and its been a great ride lately. The VA Linux IPO day should give CORL one more booster, too :)
I got the Red Hat letter a while ago, but VA Linux didn't send me their letter. Oh well, I guess contributing to the Linux Documentation Project, and writing some utilities and making them available on MetaLab is unimportant. Hmph.
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ROB MALDA NAKED AND PETRIFIED! .PETRIFIED! ..PETRIFIED! .PETRIFIED! .PETRIFIED! .PETRIFIED! .PETRIFIED! .PETRIFIED! .PETRIFIED! .PETRIFIED! .PETRIFIED! ..PETRIFIED! .PETRIFIED!
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.
The confirmation of pricing and your share allocation of VA Linux Systems will now be Thursday morning at approximately 7:00 AM PST. We will be contacting you at that time. It will not be tonight as originally planned.
The market opens at 6:30 AM PST. I'm planning to up and logged in at 6:00 AM PST, ready for underwriter fun and games.
e*trade is taking reconfirmations right now. The window for reconfirmations is only two hours guaranteed, so it might close any time. If you have an indication of interest on e*trade you need to go there right now.
WR Hambrecht is taking reconfirmations, too. They mailed me with a URL to click to re-confirm.
It's time to get in touch with your inner suit. Remember guys, underwrites they can play games, they can make you lose, but they can't make you quit!
sorry
The little guy gets screwed again!
just a friendly reminder, does VA really worth that much (In fact, is RHAT worth that much)? Remember don't marry with a stock, sold it with good profit, and profit is profit while lost is lost. I heard most of the original TV manufacturer no longer in business (and it is true), anyone care about RCA today?
If this trend of Linux and/or Open Source related companies offering stocks to significant members of the community continues, I think we may have just found how to support the programmers. In fact, this is even better than working for a company: friendly competition develops amongst developers for access to IPO's, increasing code quality and quality of life!
I'm sorry about this slightly off-topic post, but I know Slashdot really can't post a story about its IPO during the "quite period". I and I'm sure a lot of other readers would like to know more information about it. A news.c om story has info about both VA Systems' and Andover.net's respective IPO's.
Do you feel that either of these IPO's are good investment opportunities? Is Andover.net's auction style IPO a good idea? Some investors warn that since institutional investors are not among the initial holders of the stock, their share price could suffer as a result. What do you think?
Sig goes here
Sorry. Nevermind.
Since they repriced, I think I'll be going to the bank to have *more* money wired to my brokerage firm (ETRADE) first thing Thursday. I'm getting a feeling that they might price above the $30 listed today, so I'll have enough for $45. I think that anything over $45 would be more than I'm willing to risk & more than the company is worth, but I have a instictive feeling that LNUX will be trading over 100 after 5 days. Time will tell...
OTOH, if the IPO doesn't do so well, then it's possible investors may reconsider or take a harder look, and decide that it's really a Dell, not a RedHat. Well, I'll take LNUX if it "only" performs like Dell has... ---matt
ANDN already did it's thing earlier today... did ya miss it?
They ought to let some of us poor developers buy 50 shares now, so we can at least still get in on some of the action.
VA Priced @ $30
...little boy.
According to: http://quotes.freerealtime.com/rt/frt/quotes?symbo l=LNUX&type=Quote
As of the time I post it it is listing the price as $30/share but with 0 volume. Am I looking at a glitch (a moment ago it was nothing but zeros all across, including the price and change).
I hate this... I dont know what is going on exactly, and when you have your own money riding it's fearful.
I wish there was a page saying "VA is currently trading" or "VA is not currently trading".
- Hugh Buchanan
- Userfriendly.com
Does anyone know when Andover actually hit the market? Was it some odd time of the day?
- Hugh Buchanan
- Userfriendly.com
ROB MALDA NAKED AND PETRIFIED! .PETRIFIED!
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ummm, SUNW increased from about $40/share at the start of the year to $144 yesterday. Maybe it looks "down" to you because today it split 2 for 1, but today it closed at $78+ so it's still going up. SGI is over 11, not at 2. And SGI is repositioning itself with major Linux initiatives.
Freedom's just another word for nothing left Zulus
PLEASE MODERATE THIS DOWN!!!
http://eugeneciurana.com | http://ciurana.eu
I have posted this to another thread, but since Linux stocks are relevant here, I will just re-post.
I submitted this as a story, but it was rejected.
I believe it's very interesting and demonstrates the Linux stock craze in the markets very well.
Check this out:
A bunch of people on Yahoo chat boards touted a company called Perle Systems; which makes I/O cards and equipment, as the company behind Perl. To make matters worse, the company released a news article about Linux drivers for their products to hype the stock further. Thousands of crazy day traders flocked to buy the stock just because the ticker symbol is PERL and they thought it was Linux-related, and the stock is now up 200% in one day.
Go check the stock "PERL" if you don't believe.
The company owns Specialix, which made multiport serial cards, and all they did was to put in a press release that announced the availability of Specialix Linux drivers that have already been around for about five years now.
--
BluetoothCentral.com
A site for everything Bluetooth. Coming in January 2000.
Zigbee Central: A Zigbee weblog
Check your facts!
Wed Dec 8 - After U.S. Markets Closed
"Yeah well
Find the money and hand it over.
(--BS Mode == Bu**Sh*T mode --)
(BS Mode)
VA will close the 1st day trading at $80 minimum. It will close the year at well over $200. Get in now and take out only your initial investment plus 10% next week.
Let the rest sit for at least 6 months. Next summer you will be rolling in dough so just send some this way.
(/BS Mode)
Of course I don't know any of this and have no knowledge or interest in the stock market. I'm a hardware hacker and I failed accounting at high school.
--= Isn't it surprising how badly I spell ?
I was hoping the opening price would not exceed $60 in the morning.. with this reprice and all the hype.. it will open around $160/share.. this is bad news for all us small investors.. once again the stock market fsck's all but the elite brokers and their friends.. America.. land of the corrupt..
Remember -- due to our little friend the quiet period, don't expect any stories about the ANDN stock offering for some time.
;)
We're still welcome to comment about it -- who else watched ANDN more than triple on its opening day?
For more information, click here.
It's a done deal. Closed today at $60 and change, I think.
----
Just found a way to make share price suffer, by making people think it will suffer without them.
The heck with VA -- what about Andover.Net? W.R. Hambrecht has priced its innovative "OpenIPO" of Andover.Net, parent of Slashdot.org, at $18/sh for 4 million shares (which I seem to recall implies an overall valuation in the $200-400 million range) yesterday. One thing I cannot figure out, however, is that the auction clearing bid was $24/sh, but Andover.Net agreed to sell at $18/sh, thus leaving $24 million on the table -- I guess they thought it would help their aftermarket more to have the share price pop up more following issuance. Rob has to be feeling pretty good -- $18 was above the $12-15 expected range, though if you consider the (Slashdot hits)/(total Andover hits) ratio compared to the (Slashdot sale price)/(total Andover sale IPO valuation) ratio, it looks like Rob sold himself rather short -- I seem to recall that the numbers are like 2/5 vs 1/40 or so.
By the time you had posted, the Wednesday market was closed; the Andover.net IPO is a done deal.
Brent J. Nordquist N0BJN
I don't think they should be able to jump the IPO price with such short notice.
Check me on this.. but I just looked at some
of the systems that they are peddling and the
prices seem way rich to me. Like how much
premium should be paid for a low end wintel box
that already has linux installed (and I suppose
configured properly)? Please correct me if I
am off base but I really do think you can do
better buying from the likes of Dell/GTW/Micron
etc and installing Linux yourself.
Of course I'm 60 bid for their shares when they
start trading...
I'm sorry for the stupid previous post. Did any of you invest in the IPO. How many shares were you able to purchase?
Sig goes here
According to their log-in page, conditional offers can be verified until 11:15AM EST, with the price at $30. I gather the share allocation and subsequent trading will commence at that point.
Here's the message ETRADE is showing at the login screen as of Thu 10:25 am:
"12/09/99 The Va Linux Systems, Inc.(LNUX) initial public offering has been priced at $30 per share. E*TRADE is no longer accepting new Conditional Offers in this offering. If you have previously placed a Conditional Offer and still wish to
be eligible to participate at these terms, no further action is required. If you have previously placed a Conditional Offer but DO NOT wish to participate at these terms, go to Current Offerings by 11:15am EST to change or cancel your open existing offer to purchase. "
Scott
Believe it or not, this is the first really gross abuse of /. I've seen on this kind of scale in my 2+ years here. As a moderator, I'd like to be able to actually do something about it -- at least moderate them all down, but alas I can only do the first 5. Maybe it's time to delegate out some power to a few dozen hand-choosen moderators and allow them to manage messages.
I mean, everything should be logged and reviewed by the Powers the Be, and the power should only be used against gross disruptions like this one, but it'd be nice never to see this sort of thing again, wouldn't it?
MSFT: Market Cap: ~470 billion
RHAT: Market Cap: ~ 20 billion
Remember, you have to go by what you think FUTURE evaluation is going to be. If you believe (as I do) that Linux is indeed headed toward the "big time" (ie. REAL competition for MS), this is not THAT inflated. After all, MS is more than 40x RHAT's valuation.
Also, just for reference,
YHOO - 85 billion
AMZN - 35 billion
AOL - 180 billion
Now that I look at it, I think RHAT has a ways to go still. IMHO think RHAT will ultimately be worth more than AMZN and YHOO.
BTW, I have a vague understanding of what the market cap means (in the real world, not investor-speak), but would like more info.
E*TRADE's latest confirms the $30 pricing, and says customers who've placed conditional offers have until 11:15am EST to cancel if they want to (after which presumably they run their allocation)... Sounds like it may start trading around midday.
That way, you will be listed in a database of open-source software authors, and the next time someone does a Linux IPO, they will let you in on the ground floor along with all the other hackers.
send all spam to theotherwhitemeat@ropine.com
Note that there's another party that gets "screwed" further by the pre-IPO price raises: the Linux community members granted the option to purchase pre-IPO shares; they benefit less from the IPO and VA Linux benefits more.
I don't blame VA for leaving less money on the table, but I'd be surprised if the IPO jump is as large as others we've been seeing. The smaller the jump, the more tempted people are to flip and lockin their win, which could backfire. We'll see I suppose.
--LP
If the stock falls, we sell it, and it zooms back up, I get to tease her for the rest of her life for her cowardice.
Balancing risks and rewards -- that's what investment is all about....
When I talked to DB Alex. Brown a few minutes ago (7:45am PST), I was given the option of purchasing 50, 100, or 140 shares as part of the Directed Share program. So it looks like they're actually being a bit more flexible than the original documents made it sound (100 shares, no more, no less). Shame I didn't have an extra $1200 lying around! IPO initial price is $30/share. I could have spent it, but never violate the first rule of gambling (and this IS a gamble, albeit with better odds than a casino offers) -- don't risk what you can't afford to lose.
[Sitting on the ground and preparing to tell a tale of days of yore to the kiddies]
You see, back when Slashdot was a more innocent place, used only by geeks and unnoticed by 3lee7 d00dz, you used to mark you posts just by entering your handle when you posted. Of course, this allowed anyone who wanted to to impersonate anyone else, but this happened only rarely.
The new functionality on Slashdot is nifty and I give Rob mad props for it, but I suddenly really miss the old days.
So, what do we do to return some stability and civility to /.? I can't imagine being (the real) Enoch Root tonight, knowing that my Inbox is about to be napalmed by a bunch of knee-jerk dumbasses. I'd really like to see this guy pay, but I seriously doubt that'll happen.
Ah well. (Posting anonymously so I don't become this jerk's next victim)
C'mon, scrounge some cash! I'd rather see people with The Letter get their shares than see them wind up in the wands of random Wall Street assholes who have never done a thing for Linux.
You could have indicated interest E*Trade in lots of 100 shares - but it's a lottery system, and it's over. And E*Trade's site is down in any case. :/
----
I got confused by Hambrecht & Quist versus WR Hambrecht last week, too. My account is with WR Hambrecht and I've placed an Indication of Interest with them. I know the chances of getting any are tiny. I should've used the money to buy some ANDN at $18 instead!
BTW congratulations to VA Linux for finding a way to let people outside the US participate too.