Max, the key to the KREM lockup is how many options are vested and who owns the locked up shares.
I took a look at their filings just before their IPO, and it was just too much information. There are too many people who own 300,000 shares here, 200,000 shares there, and so on. Only one real large holder.
My guess is that 10% of these shares will be floated.
Are you sure the lockup is not 7-million shares? They just had their secondary, I believe, and that would have reduced the number of shares under lockup, resulting in the discrepency.
From the looks of things, the lockup expiration may put some pressure on the stock shortly afterwards, but the full brunt should not be felt unless the general market drops a couple of weeks later, IMO. That's been my experience recently, anyway, when the market is in an upturn.
This is an $18 stock that would not drop for a year. Maybe soon the market will put things back in perspective.
I looked to short it last summer, but realized that the lockup was a long ways away and the stock was incredibly resiliant. I shorted STOR instead.
Good Luck. |
