These are the guys who did that secondary a few months ago, right? So, has to be expected. Thanks for posting though.
Yes...the thing is in Zillow, it has such a large short position and a defined risk (FTC vote) all the options are expensive, especially further out. So, you could get a nice premium by selling covered calls I guess, but I actually don't know much about selling calls.
If you are saying that after the new year you think Z drops from the $142 range to the $120's then it wouldn't make any sense to buy puts...there is too much implied volatily for such a relatively low drop to make sense.
My guess, the market rallies some after Fed statement, which will take JRJC back above $7 a bit...but tomorrow and Friday sell-off continues on BABA vacuum and possibly Scottish vote.
It shows 0 as his holdings on Yahoo...he just cashes out his options as they vest. PS - here is what he's up to today:
"Zillow CEO Spencer Rascoff just went on a huge 25-tweet tweetstorm about the challenges that technology companies face ahead of their IPOs. "
Nice to know he is paying attention to business - lol. Meanwhile I read Citron went on another attack of Z/TRLA
I think they would have done so by now if it was a beat...looks like an in-line Q, to a bad Q is starting to make it's potential known....horrible week. Declining volumes, nothing but a couple fluff press releases and lower daily highs, lower lows and only a few retail types apparently hanging on hopes. I think this has played out.
People are sick and tired of DDD. Sentiment has been waning for a company trying to be all things to all people. Acquisitions every other day can be troublesome when a company consistently misses eps expectations. Their valuation is still reflecting hyper-growth even though this industry is fraught with competition above and below, and organic growth is, in fact anemic. Some important IP-related patents are expiring soon. Insiders are constantly unloading ($5M in the last week- good sales guys)...technically we just had a short-term set back. SSYS is becoming the better AM play by many.
To me it's a sign that nothing newsworthy is going to happen until EPS, which could be less than stellar given they didn't pre-release like so many people thought. In fact, it looks like they are holding back from releasing as Bloomberg and Reuters (I think) were expecting that to happen yesterday. Now it looks like no one knows when they will report. Typical opaque Beijing based company. Good luck if you are a true believer, I own a few puts but am looking to close out soon.
And didn't everyone assume the platform would be mobile-compatible? I don't think this is anything unexpected, thus the return to the $8 handle.
No doubt there are plenty of company's that have denied, or no commented somewhere, sometime and then came out and made a buy anyway, but I take a CEO's dismissal on face value when she says also says they plan to directly compete in part of the space (industrial) from their own de novo efforts, andaren't interested at all in the other aspect (retail/consumer) of a potential target's business model.
She has already dismissed the idea of buying any 3D/AM company, quite publicly on CNBC after their latest ER. Cramer was trying to bait her into saying they should buy SSYS, and not DDD though.
yep - bit of a bump, now easing back, but still up. However the "news" is justa fluff piece...some thought EPS or a pre-release was due today.