maandag 31 juli 2017

SNAP Crashes Near Record Lows As IPO Lockup Expires

Another day, another tumble in SNAP. Today's tumble continues the slide from $29 highs, $24 open, and $17 IPO as SNAP shares trade down to $13.20 in the pre-open after this weekend's IPO lockup expiration...


The exact number of shares available after the lockup expires isn’t disclosed, according to Bloomberg data. JPMorgan believes ~400m shares owned by early investors will become available on July 31, while MKM estimated that 60% of the 844m outstanding shares will be unlocked. Snap has 682.1m shares outstanding (250.8m-share float) as of April 30....