CNBC's Faber Says Facebook (FB) Holders Bracing for Fight on Lock-Ups
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On Thursday, Pivotal Research highlighted upcoming lock-up expiration following Facebook's (Nasdaq: FB) May 18th IPO, saying it would be a "non-event" for investors.
Today, those words are being echoed on CNBC, with research ace David Faber tweeting his thought's on the matter. Given that nothing has come from the account since August 6th, many took notice. From his official Twitter account, Faber said [in two statements]:
"Facebook cfo in NYC today meeting with 10 big investors looking to drum up some enthusiasm for stock as lockups come off," and "Facebook cfo investor meetings today start of big push in coming weeks by company to combat lockups. 3 meetings today, more next week."
Not only was that the best-spelled thing on Twitter today (Faber makes good use of just 140 characters), but it highlights a key point: investors are bruised and beaten by the stock already in just a few short months and they want some reassurance that employees, execs, and insiders are just going to dump and walk away.
Again, for a more complete analysis, check out the Pivotal Research piece here.
Facebook shares are up 2.3 percent following Netflix CEO Reed Hastings acquring his first stake since becoming a Director of the company in June.
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Today, those words are being echoed on CNBC, with research ace David Faber tweeting his thought's on the matter. Given that nothing has come from the account since August 6th, many took notice. From his official Twitter account, Faber said [in two statements]:
"Facebook cfo in NYC today meeting with 10 big investors looking to drum up some enthusiasm for stock as lockups come off," and "Facebook cfo investor meetings today start of big push in coming weeks by company to combat lockups. 3 meetings today, more next week."
Not only was that the best-spelled thing on Twitter today (Faber makes good use of just 140 characters), but it highlights a key point: investors are bruised and beaten by the stock already in just a few short months and they want some reassurance that employees, execs, and insiders are just going to dump and walk away.
Again, for a more complete analysis, check out the Pivotal Research piece here.
Facebook shares are up 2.3 percent following Netflix CEO Reed Hastings acquring his first stake since becoming a Director of the company in June.
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