The expectation of a HUGE SELLOFF come lockup expiration day got priced in the stock price during the days before the lockup exp. date actually arrived
so when lockup expired, there was nothing left to price in. and so shares actually went up. in other words, bad news got priced in long before the bad news actually hit.
Except for the fact that the price went down on the last lockup expiration, even though that was also known. GS is probably soaking up the shares and is on the phones trying to sell to institutions . But I think another poster had this pegged most correctly when he said it was due op. ex. this week. Or maybe Carl Icahn has taken a stake (kidding).
Logic doesn't have anything to do with it. More buyers than sellers it seems driving price up. Good for longs. Still, I'm short. FB was over $23 3 weeks ago. If it hits $24, I'll add to my position. Today's bump doesn't change the macro financial situation or the economy or the tax changes, Obamacare, etc... AAPL who makes real products and real income with demand is dropping and yet FB is going to sky on "potential" (think MySpace) in increasingly difficult economic times? I may be wrong, but I'm willing to bet against that. If I'm wrong, it won't be the first time. hehe
Sentiment: Strong Sell
The market is NOT "flooded with shares." The flood would have occurred IF the unlocked shares had been sold, but they weren't. The potential sellers are not desperate and will simply hold on, or even buy more in anticipation of higher prices.
I shorted on yesterday but then I covered quickly, because I was thinking of one possibility when I looked at APPL and Amazon chart: Goldman Sachs Manipulation.
Very likely during August to October, GS has entered agreements with those FB locked shares' owners to buy their shares at around $20. Then GS started to sell off Apple and Amazon to prepare huge amount of money for FB.
GS can just push FB higher and higher, and then, Bang! a beautiful Q4 report.
Will FB have a good Q4 report? Absolutely it can have. Very simple, GS can just let its affiliates and its connections to be FB's mobile ads clients. So on one hand, GS and its crooks spend millions on FB mobile ads, on the other hand, they can earn billions on the stock.