The 180 day lock out period to sell stock after the IPO must very near, if not already here. I'm trying to understand how this stock trades? It can significantly go up or down on very low volume or just stay flat. The past few weeks we seen it trade from under $4 to almost mid-$5, but the past few days have been down, which is why I ask about the 180 day lock out? Being busy today, I haven't done any more research, but if someone know when this period ends, please post it. I'm also interested in how many shares the former CEO and other's have related to this lock out. IMO we have to get somewhat past this for the stock to move higher. Watching out for any down days on significant volume.
Based on the volume these past 2 days, I estimate about 1 million of the 5 million shares may have been sold. If so, this still leaves about 3 to 4 million shares from the lock up period. I expect some more selling, but in the short term it may taper off. However, IMO we still have to get past another 1 to 2 million shares for PPS to move up without being dragged back down by another round of selling after any significant buys or gains, JMHO. I'm a buyer of more shares, but I think I it may go under $4, again depending on how these guys sell their shares. It's got my interest, but I'm not ready to pull the trigger yet, just to make these guys richer.
I think the lock out will be a non-event, look what happened to FB it shot up through the roof when it didn't sell off because the participants (employees and former employees etc) knew the price was being manipulated and that the price was only about 1/2 the IPO price, similar to VMEM.