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
- All Of The Oil Losses Shall Be Regained | iBankCoin.com
- Three Perspectives on Falling Oil Prices | Financial Sense
- And Here is Opportunity | iBankCoin.com
- Land Of The Free? 1 In 3 Americans Are On File With The FBI In The US Police State | ZeroHedge
- Why It Better Not Snow This Winter, In One Chart | ZeroHedge
- Morning Motivation | iBankCoin.com
- The Crocodile Jaws Spring Open Again, Preparing To Bite | ZeroHedge
The most relevant financial news and articles from the Internets
- Obama Might Try To Circumvent Congress On An Iran Deal — And He's Already Getting An... | Business Insider
- Market... | StreetInsider.com
- The 11 Most Popular Apps Employees Use At Work | Business Insider
- London’s Rich People Are Becoming Completely Unhinged About Their Mansions... | Business Insider
- Brazilian Planemaker Unveils Its Biggest Military Jet Yet | Business Insider
- Outrageous Email Reveals How... | Business Insider
- Amazon's Hit Man | BusinessWeek