Facebook [Nasdaq:FB] Thread unico capitolo II
Sir Wildman
The White Knight
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Esurimento spazio nell'altro thread. Se vi va ricominciamo da qui
Ok, ho cambiato solo il titolo.
ok no problem
eternauta
Novacula Occami
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Esaurimento spazio nell'altro thread. Se vi va ricominciamo da qui
ottimo, grazie
Allegati
Ultima modifica:
eternauta
Novacula Occami
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Musings on Markets: Much ado about liquidity? Lockup expirations and stock prices
...Rather than search for elaborate rationale for the different market reactions, I would point to price momentum around each of the expirations. The first lockup period expired in the immediate aftermath of a bad earnings report in August, with the stock price already sliding, and the market reaction was negative. The second lockup period expired after the stock had spiked on the third quarter earnings report but was retracing its steps in the days after. The lockup period that expired last week (on November 14) was after the second earnings report, which was viewed as good news, and when the stock had upward momentum. Looking at this small sample, it seems to me that at least in Facebook, insiders have behaved like other momentum investors, selling when everyone is selling and holding if the prevailing sentiment is positive. If there is a broader lesson to be learned from these experiences, it is that we attribute too much wisdom and knowledge to insiders, at least at young growth companies. Rather than being ahead of the market in their assessments of value, insiders at these companies are often just as uncertain as the rest of the market and just as likely to follow the crowd. As a stockholder in Facebook now (my limit order did come through), I am less inclined to pay attention to what Zuckerberg thinks or does about the company and more to the fundamentals that will drive its value over time.
...Rather than search for elaborate rationale for the different market reactions, I would point to price momentum around each of the expirations. The first lockup period expired in the immediate aftermath of a bad earnings report in August, with the stock price already sliding, and the market reaction was negative. The second lockup period expired after the stock had spiked on the third quarter earnings report but was retracing its steps in the days after. The lockup period that expired last week (on November 14) was after the second earnings report, which was viewed as good news, and when the stock had upward momentum. Looking at this small sample, it seems to me that at least in Facebook, insiders have behaved like other momentum investors, selling when everyone is selling and holding if the prevailing sentiment is positive. If there is a broader lesson to be learned from these experiences, it is that we attribute too much wisdom and knowledge to insiders, at least at young growth companies. Rather than being ahead of the market in their assessments of value, insiders at these companies are often just as uncertain as the rest of the market and just as likely to follow the crowd. As a stockholder in Facebook now (my limit order did come through), I am less inclined to pay attention to what Zuckerberg thinks or does about the company and more to the fundamentals that will drive its value over time.
Spero che il vaffa non sia per me. Comunque oggi era chiusaottimo....oggi meraviglioso pre-market con -4,5%....mavvaf*******va....
eternauta
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eternauta
Novacula Occami
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Facebook chiede ai dipendenti di abbandonare l’iPhone
da: Facebook chiede ai dipendenti di abbandonare l
da: Facebook chiede ai dipendenti di abbandonare l
