Here's an example (VRA):
Oct 2010 IPO: $16
Apr 2011 secondary: $43.50
May 2011 high: $52.25 (up roughly 20% since secondary)
Current price is $25 (down 50% from high)
Chuy's secondary was priced @ $25. High of $30 earlier this month (also up 20% since secondary).
Current price is $27. Once the stock breaks through $24, I see a quick trip to $15.
Sentiment: Strong Sell
Any scientist will tell you they can skew data to make their point.
Here's another example (KORS)
IPO - $20
Secondary - $53
Current Price - $63.30
and going higher...
point taken but KORS sold $1B in its secondary offering (10% of total mkt value). CHUY's secondary offering was nearly 30% of its mkt value - incredible.