Tomorrow is the big day regarding that. After only allowing (and I’m thinking of this off the top of my head, so forgive me if the numbers are a bit off) 5% float thus far, Another 15% will unlock today. My guess is this leads to a sharp decline, but if it holds position, it does bode well for the stock to maintain its price longer term. Most of the investors whose shares unlock today acquired them at a $38 price, meaning they are all heavily in the money and could be looking to take their gains ASAP.
Can’t blame them. I would probably sell a bunch if my acquisition price was $38.
As would I, but the share price held its ground even with that catalyst.