Right, but again, I don't think that the 9 million shares from the secondary that are being unlocked tonight are going to be a problem, because all of these shares were purchased for $44, and I doubt many of these investors are looking for a $1 dollar profit.
I don't know where the other 22 million - 9 million = 13 million unlocked shares are coming from. Assuming that they are from original investors with big profits, it remains to be seen whether they will just sell in large quantities and take profits, or sell small amounts and hold for the long term, as your scenario pointed out.
There was a major lockup expiration a couple of months ago, and the damage was not too bad. At that time, it looked like investors took a few profits, but held on to the majority of their holdings. Hopefully, we will get a repeat scenario, as that would demonstrate long range confidence by insiders and major investors. |
