Facebook: The Great Selloff
Over the next four months almost 70% of Facebook (FB) shares could hit the market in a huge selling force. The flood gates open for the first round on Thursday August 16th. What could it do to the current value of FB shares?
Leave it to Henry Blodget to figure out who may be selling and how much they are holding. Blodget also speculates what those rich people might do, let it ride or sell like no tomorrow. Including Goldman Sachs (GS) sitting on 41.6 million shares of FB. Facebook closed down 5.6% today to $20.38, that's 2.7% from its 12 month low.
Here's the 411 -- (Business Insider | Henry Blodget) There has been a lot of noise about the massive number of Facebook shares that are going to be released from lock-ups in the next four months.
No one knows exactly how many of these shares will be sold.
But given the humongous number of them--2+ billion shares, or about 70% of Facebook's shares outstanding--it's a bit like standing at the base of Hoover Dam wondering if the floodgates are about to be opened.
The potential deluge will begin Thursday morning, when 268 million shares (10% of the shares outstanding) will be released. Continue at BusinessInsider.com
Best of the Blogs
Scanning and identifying the best blog entries every hour
- The Arctic: The Final Energy Frontier | ZeroHedge
- Long-Term Breakout | Financial Sense
- Oklahoma Tornado Live Feed - "This Is About The Worst Damage I Have Ever Seen" | ZeroHedge
- Fly Buy: $JIVE | iBankCoin.com
- Judd Gregg Redefines "Revolving Door" - From US Senator, To Goldman Sachs Advisor, To Head Of SIFMA | ZeroHedge
- Brent Vigilantes Drag Gas Prices Near 3-Month High | ZeroHedge
- Brussels Puts Spain Under Surveillance | Financial Sense
The most relevant financial news and articles from the Internets
- Notable Mergers and... | StreetInsider.com
- 13 Things You Never Knew About Walt Disney World | Business Insider
- Everyone In Zephyrhills, Florida Is Anxiously Wondering Who Just Won Almost $600 Million In The... | Business Insider
- Incredible Footage Of China Demolishing Miles Of Elevated Road In Just A Few Seconds | Business Insider
- Here's An Awesome Photo Of Firefighters Rescuing A Bear From A Tree | Business Insider
- Chelsea Goalkeeper's Son Scored The Best Goal Of The Weekend | Business Insider
- Bob Woodward: Obama Administration Acted '... | Business Insider