[wickedgoodtrader]

Yes you are right about how IPO's usually work, but it's not how they worked back in the IPO craze. The online trading companies were trying to get more of a customer base, so they were handing out shares on a first come first serve basis when they posted the IPO was available. This was like an incentive program to get customers. It didn't matter how much money you had.. just needed enough to buy 100 shares. Each account was restricted to 100 shares. So I signed up 2 accounts on Etrade and 2 accounts on Wit Capital. This way I could get up to 400 shares. Just used my Dads name on the 2nd account. They did say that if you flipped your shares you were less likely to get future shares but they didn't seem to apply it. I was young then, still in highschool so I didn't capitalize on it like I should have. I knew of guys that had 10+ accounts and were making BIG money gettin 1,000 shares of Ipo's. So the story is not BS I can assure you that.