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Zynga, Inc. Message Board

  • odonnellm66 odonnellm66 Oct 10, 2012 2:17 PM Flag

    A Math Question: Why didn't Mr. Pinus Liquidate More Shares at $12 and $13-?

    He still owns a huge amount of this paper, which appears destined to wipe the orifice on his posterior. Of course his shares, like Uncle Zuckie's, are in a class unto themselves, and hence the majority of the voting rights. In terms of simple integers, it was not feasible for the Russian to liquidate more than 10%. You best believe Mr. Pinus studied the Madoff saga carefully, and he's not particularly fond of bologna sandwiches. To push beyond a 10% level would have drawn the suspicion of the Wall Street analysts, and down the road the SEC, after they were done viewing Jenna Jameson, might knock at his door. The sham secondary offering was a brilliant stroke, and it was justified here on the board in every possible term, except for what it really was--a back door exit. Still, Mr. Pinus is smiling, as he reaped a cool $200 million. If you include stock liquidated by fellow tribe members, also via the secondary, the figure is in the neighborhood of $600 million plus.
    So we are back to another Math question. Divide $600 million by $1.76 billion. Yes we are expressing it as a fraction. At current share price, that indicates the percentage of stock dumped by insiders, and it is a complete and utter travesty.

    "Lies, damned lies, and statistics." --Mark Twain

    Sentiment: Strong Sell

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