All these shares just give the shorts more availability of shares to short.
Big hedges know if they drive this stock down, the costs to FB to pay taxes on these stock grants will be so large that it will cripple the profitability of the stock.
At 19, it will take a year for FB to show a profit, best case.
At 17, a year and a half
At 15, two years.
The lower it goes the worse it is.
The basis some of the locked stock has is under 5, so they would be nuts not to get out tomorrow.
Not to mention the taxes on sales in 2013 will be WAY, WAY higher than selling tomorrow.
csp, I don't disagree with the second part of your thoughts, but I'm not following you on why it costs FB more in taxes if the price is lower. Can you please explain a bit why a lower PPS results in additional costs to FB?