The next few weeks could get a bit hairy as the lockup on the 10 million share IPO ends next Monday -- with selling into a existing float of only 7 million shares. Could get a bit swampy, but also could be a chance to buy shares well below the current price for those interested. Perhaps we will have a chance close to $3 again.
I wouldn't count on a ton of shares hitting the market. The locked up half of those 10 million shares were bought by existing VCs who are all on the board and therefore unlikely to sell, especially given that the current price is below the $5 IPO price. They will want to wait for their 3-5x return. The other 5 million shares were purchased by institutional and retail investors who were not subject to the lockup in any case. They've been buying and selling since the IPO. Maybe some early employees will start selling after the lockup and introduce some additional liquidity into the stock.