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Investing

Facebook Snags Stock Upgrade Into IPO Lock-Up Expiration

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By Jon C. Ogg Updated Published

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Does the Facebook, Inc. (NASDAQ: FB) lock-up expiration really matter?  Not according to S&P Capital IQ, as it has just today raised its equity rating on Facebook to Buy from a prior Hold rating.  The lock-up expiration does matter to investors and traders though.  That is evident because the shares are still down 5.9% at $20.33 on the day and shares have actually drifted lower since the upgrade was issued. In fact, shares were close to the lows of the day right before the closing bell.

While investors should not be worried that this many shares will come out on the market this soon, the reality is that more than 270 million shares will become unlocked so that insiders can sell more stock.  The date is scheduled for August 16, but again this is usually not a situation where all shares eligible for sale actually get sold.

Facebook has basically been cut in half and its metrics have not been helping out for the growth.  That will keep some insiders from selling, or so goes the logic.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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