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Market volatility and increased investor caution about investments in new technolog firms might be the cause for the post_t.
Internet mortgage broker E-Loan's decision this month to delay an initial public offering was likely fueled by concerns about a downturn in mortgage originations and investor wariness over new Web-based businesses.
"It's a question of timing,' said Sutro & Co. Associate Richard Eckert. "Let's face it, E-Loan was trying to cash in on this internet craze."
E-Loan reported on June 10 that the estimated price range for its initial public of fering of 3.5 million common shares dropped from the $11 to $13 per share range to between $9 and $11 per share.
The Dublin, Calif., Webbased mortgage originator did not say why the estimated stock price fell in a public filing with the Securities and Exchange Commission.
E-Loan was among several internet start-ups that delayed initial public offerings because of market volatility driven by rising interest rates and by increased investor caution about investments in new technology firms.
According to Eckert, the E-Loan decision may have...