Monday, April 24, 2017 11:04:29 PM
Clearly, if individual owners didn't sell, Institution's couldn't buy, at least not from the open market, but any time the company wanted to do an offering, they'd step in and take it all.
Decades ago I thought of myself as priviledged when my broker got me a few shares in an offering. Not only were you buying the stock slightly below the price at the prior days close, but you paid no commission. I don't have a major brokerage account any more, but from what I gather, most offerings these days are spoken for by Institutions unless the Institutions simply aren't interested. I.E. if you can get in on a new offering, you have to wonder how desirable it is.
Gary
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