I love this company but HATE these constant SPO's, this will be like the others another momentum killer selling billions of dollars worth of shares at a discount.
Next move will be to upgrade guidance so the greedy sellers can get a better price & for the rest of us expect stagnation.
This happens it seems just when we are about to breat out & blast off.
Oh well, this is all relativley short term...
I am flabbergasted.
IPO shares sold November 2011
First secondary Spring 2012
Second secondary Fall 2012
And now third secondary early 2013
They are pulling money out of this company faster than the company's sales !!
It makes me not to want to trust their bookkeeping..........
Ricjh, these SPO's sold to institutions etc have you experienced these holder to be quick on the trigger when they have a profit? or have reached a target price? It seems to me that if the holders of these shares are short term thinkers driven by instritutional pressures, these shares can affect supply demand in a negative or positive fashion. What has your experience been over this short run the company has been doing this?.
I've experienced this before here. There is no doubt in my mind all shares & the extra shares will be absorbed by institutions, funds & retail quickly like before. However short term like I said momentum will be stopped & we wuill be range bound till NOT next quarter (FYQ4) as they will give great guidance to get a high selling price but the following quarter if all is well & we are performing as planned then we will see upward movement like these last few weeks.
Fundamentals are not effective, this is not dillutive & only the Free float has increased.
I suspect one more SPO probably around the end of this year & the insiders (mostly venture capitilists) will be sold out.
I guess if you are long term this will give the stock a pause or even a small bump down to get in.
It is displeasing to see them continue to dump shares but on the other hand insiders own 50% and they really do need to sell some of those shares. All the houses, boats and cars won't buy themselves so prudent to diversify.
On the bright side was at the mall. Kors was packed. Coach was empty. Amazing to see what has happened in just 3 years with Kors.
i noticed the same in dc area mall ...
secondary - dont have an issue with these shares coiming out of management
in fact its good for longs if it goes down -- it would be a good buy