Also note that FB raised their offering price and the thing that scares me is the huge number of shares coming to market in a month and in the next 4-6 months. With that much supply and insiders dumping, the stock would probably be under a lot of pressure for the rest of this year. Also with the tax cuts expiring may put more pressure for people to sell before Jan 2013…
The IPO was GREAT for Facebook since tons of insiders can sell now and they raised more money, but it f*cked all the people who bought at the IPO price (your long term investors you hope) who may now dump it since it’s a train wreck now.
If they didn’t change the lockups and all the insiders didn’t dump shares, maybe I would have bought some already. This is just too much like rushing for the exits.
