I would be careful up at these levels.. don't want to get too greedy.. imho
I wish I were smart enough to day trade this one. Looks like lots of up and down action.
I don't know about that one! 27 million shares unlocked and an average volume of 56 thousand a day. I am thinking about waiting a month to see where it ends up.I like the products. Just don't see the short term catalyst to move up the share price with that sort of overhang.I WAS surprised that the MM's did not do more to prop up the price today! They might have been busy doing other things on such a down day.
Bought today right before close. I agree the sell off was caused by shares being off the lock up period. If I'm one of those who has shares that are now available to sell, I do one of two things:1. Run for the door on the first day2. Continue to hold.The stock may have another $1 or so downside but a great majority of the shares that wanted to get out were out today. Will see you at $30 soon!
Anyone know off the top of their head when the lockup release is?
Funny you would ask. Tuesday evening, Jan 17th is the lock-up release date. Here is are my computations of what to expect based on HITT's IPO prospectus and conversations with management:Total Shares Outstanding 28.6mless IPO + Shoe 5.2mPotential LU 23.4mExisting Holders Dr. Ayasli (founder) 16.5m Summit Capital 1.6m Other Management .8m Employees & Employees 4.5mTotal Shares ex IPO 23.4mWhile you might not worry about an immediate sale by the founder, it would be hard to imagine management & employees not wanting to take money off the table at this point. What do you think?