I'm surprised fund managers don't demant a bigger discount like 220 or 200. They want to flip it for profit. Buy at 240 they'd have to pump hard into uncertain war economy. Company job searches could really fall off the cliff.
Well, considering the arrogance of all the insider selling as of late then announcing a Billion dollar secondary, and this being the second “secondary” in the two years they have been public, I wouldn’t be surprised at all if it was priced at $260
The stock price is the only thing that matters. Basically, their business model is this: keep your stock price high. The higher the stock price, the more cash they can raise. This is a $26B market cap company that only REALLY makes $20M per year. But according to pro forma numbers, it's way better than that. Like $100M+. That's because stock-based compensation is not really compensation, according to whoever makes this stuff up. A high stock price allows the company to boost earnings! The higher the stock price, the less the dilution and therefore the more profitable the company is! Yay! All this for running a glorified poster board! Yay!