Quote:
Originally posted by Tom_PM
So, buy at $108 and put in a sell order at $200. Could do that couldnt you and cash right out?
Seems nuts to me, but I can forsee a flurry of activity from this.
Dont know shit about stocks though, except I own some.
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You couldn't buy the stock at 108 unless you've already cut that deal. Unless you have options or you have an account/relationship with one of the underwriting brokerage firms you can't buy the shares until they have all been sold at least once. In other words, if you aren't buying them from the underwriters you are buying them from a stock holder. That said, you could only buy them at 108 if the stock comes out trading flat or down which won't happen. My prediction, it closes the day at 133.
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