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Shares showing in my Etrade account
However, not all of the shares are there
loanuniverse

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 387 posted 11:42 am on Aug 19, 2004 (gmt 0)

Less than the number of shares that I bid for are showing in my Etrade account.
Portfolios & Balances: Account Positions

I know that I bid for more than those over 85.... My guess is that the allotment was decreased, I did not even get my highest bid completely filled, and my second bid was at $85.02 and I did not even get one share of that bid.

Anyone else experiencing this?

 

loanuniverse

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 387 posted 1:07 pm on Aug 19, 2004 (gmt 0)

Ok, I did the math and I got around 73% of the shares that I was supposed to get assuming that all of my bids over $85 had gotten accepted.

The allotment was clearly adjusted downward to let more investors in. This means that the demand at the $85 price is naturally higher than we thought.

Interesting.

P.S: The total number of shares that you were bidding for could have been a factor in the allocation process as there were other bids under $85 in my account.

looking forward to seeing a quote flash across my screen.

jcoronella

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 387 posted 2:48 pm on Aug 19, 2004 (gmt 0)

Its alarming to see such a big one day loss in my account because the GOOG shares are in there at $0.

FromRocky

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 387 posted 2:54 pm on Aug 19, 2004 (gmt 0)

The allotment was clearly adjusted downward to let more investors in. This means that the demand at the $85 price is naturally higher than we thought.

If this is the case, I don't understand why the price is set at $85. It should be higher.

loanuniverse

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 387 posted 2:59 pm on Aug 19, 2004 (gmt 0)

If this is the case, I don't understand why the price is set at $85. It should be higher.
Maybe Google really wanted more people to get a hold of IPO shares. This decreased allotment was explained in the prospectus as something that they might do.
Its alarming to see such a big one day loss in my account because the GOOG shares are in there at $0.
Hehehe, same thing happened to me when I logged in, I was like What?
Chris_R

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 387 posted 3:26 pm on Aug 19, 2004 (gmt 0)

I got ~74% as well.

I think you are right - there was a discount, but no one is reporting it - or they allocated the shares among the dealers differently.

If you look at the final prospectus - you can see how much each dealer got.

Morgan Stanley & Co. Incorporated
5,296,064
Credit Suisse First Boston LLC
5,296,064
E*TRADE Securities LLC
294,243

I bet a decent amount of those 294,243 shares at etrade are from people on here.

jcoronella

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 387 posted 3:42 pm on Aug 19, 2004 (gmt 0)

Yup 74% on e*Trade for me. Trading should start any second now!

FromRocky

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 387 posted 4:06 pm on Aug 19, 2004 (gmt 0)

So, the shares are trading over $98. As I expected it would be traded at higher due to the fact that all traders got only 74% of the volumes they were asking for.

Global Options:
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