(TheStreet.com's Ben Holmes, who heads TSC's ipoPros.com subsidiary, keeps a close eye on lockup expirations every week. For more on lockups and why they matter, check out Holmes' primer on the subject. The full current lockup list is published separately. )
Last week I pointed out a couple of names from that list of expiring lockups which were showing signs of price strength -- a rare commodity in recent times. Of the two,
, Tibco softened up a bit and has since returned to the same level where I flagged it. Maxygen has worked even higher and looks as strong ever. Given all of that, on balance, I'm 1 for 2 in sticking my neck out on these lockup situations. Let's see how I bat this week.
So, what looks good? Like I mentioned earlier, Maxygen continues its climb, so if you trust me enough to buy it, I'd say set a tight stop on that position and let it ride.
On the short side:
is the not-so-old
IPO which, as you see below, is coming off of its lockup. A quick check of the web tells me that few people noticed the name change. The stock is thin, weak and ripe to get crushed. AMEX-listed stocks can be a tough lot to borrow, however, so it may not be possible to short the shares, but it's worth a try.
Here's the list:
Ben Holmes is the founder of
ipoPros.com , a Boulder, Colo.-based research boutique (now a wholly-owned subsidiary of TheStreet.com) specializing in the analysis of equity syndicate offerings. This column is not meant as investment advice; it is instead meant to provide insight into the methods of new and secondary offerings. Neither Holmes nor his firm has entered indications of interest in any of the companies discussed in this column. Holmes' This Week in IPOs column appears Sundays, This Week's Secondaries appears Tuesdays, Upcoming Lockup Expirations appears Wednesdays and The Quiet Period appears on Fridays. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Holmes appreciates your feedback at