Quote:
Originally Posted by Flash68
Did your brokerage ask you about holding it for awhile? I ask because my buddy got offered to buy some as well but they asked him (not required) to hold it for a bit (I think 90 days?) before selling. Very casual and nothing on paper. I found that kinda strange.
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No they didn't ask anything like that Dave. But it doesn't surprise me. If his brokerage is one of the "underwriters" - they wan to see the stock pop - and STAY up... and or go higher.
The stock market is just a market --- so if there are more BUYERS than SELLERS -- the stock goes higher.... Thus "it pays" to ask people to refrain from selling right away. It makes more headlines - and makes the underwriters look "successful" in their underwriting efforts. Remember that they're salesman and they make big fees doing underwriting.... so they want to show others thinking about going IPO that they're the ones to do business with.
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