Whatever. You are selling I am buying.
7million shares today. Secondary was only 5 million.
Shorts covering creating demand for shares. Supply will dry up by end of week.
If you are smart you need to cover your short before then cause price will go back up on this low float bargain.
Zillow insiders sold ~2 million shares into this debt offering. That is not the confidence you want to see from a company with such a hefty valuation .. made mostly of the stuff known in some parts as "fluff".
Fluff tastes great, but then leaves that empty feeling as you devour it and nothing remains.
I agree, I checked insider trading transactions and all of them were sell transactions. Most of these guys sold between 40-60. Even the company insiders didn't believe the stocl would get this high...This stock is way overvalued...It's competitor Trulia has market cap half of Zillow's. Yet they got downgraded couple of days ago. But when I compare the two sites, they look identical to me. So I am not sure where Zillow has an edge against Trulia to have a market cap twice as much as Trulia.
There was no need for a secondary. This is the kiss of death for Z for a long-time. It may not even recover from this point. Instead of financial trickery, they should focus on running the business. Something is not right at Z. Higher executive costs, dilution, mismanagement, etc. All spell death for the stock.