Wall Street Cheat Sheet
Here’s How Facebook Faced Down Its Perfect Storm
By Aabha Rathee | More Articles
November 15, 2012
Wedbush analyst Michael Pachter explained “Clearly, the lockup expiration was already priced in".
Michael Pachter was wrong .
There was no way to know who would and who wouldn't sell [ unless ]
we're talking about collusion between the institutions .
The only thing that is clear about the expiration is that not all the shares
were given up to the open market .
It appeared that only a third of the shares were actually traded on the 14th .
As for the remainder of the shares , unless the insiders intend to hold their
shares into the new year [ and a new tax bracket ] .... I expect they will sell
Also , there are those who bought at the IPO and are sitting on significant
losses .... these holders have to off-set their gains and unless Facebook
moves quickly back up to the IPO price , these FB shares will come to
market as tax-loss sales .
Michael Pachter might want to consider applying to McDonalds Hamburger College .