I really thought they were going to do some kind of split prior to ipo to get the price within range of what a regular guy can afford without having to go odd-lot. $12,000+ dollars for 100 shares is more than what I thought of investing. I would have to liquidate something or go with less than 100 shares. Time to go over the numbers and see if the stock really supports the PE premium over comparables.
I think the whole odd-lot thing is more psychological than anything else these days. I remember when I was starting to trade about ten years ago that Schwab had a different fee for odd lots, today I don't think there is much of a difference if any in the one that I use. It is more of the investor's brain wrapping his head around a round number.
Well I agree on that, but when you have shares that get that expensive - and can't afford 100 (or don't want a hundred shares) - 10 is a nice round number too :) Or five. 25... 1. I doubt many people buy round lots of Berkshire Hathaway :)
I wonder how long til I can get one from oneshare....
<I'm changing my predictions. I've poured through the S1 and done some research. Now I'm speculation an opening price of 81 and a close of 121 per share.> (May 2, 2004) Looks like I was pretty darn close