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former9thward

(33,424 posts)

10. Hardy a pump and dump.

Reply to Jello Biafra (Original post)

Tue May 22, 2012, 08:09 PM

May 2012

Zuckerberg did not want to go public with an IPO but when FB passed 500 private shareholders SEC rules kicked in and they went public. He sold approximately 5% of his holdings. That is hardly a 'dump' . He said he sold because he had to raise money to pay taxes.

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Facebook's Zuckerberg, Thiel sell shares [View all] Jello Biafra May 2012 OP

Certainly sounds like a pump and dump to me. No better than a penny stock! Set up an IPO teddy51 May 2012 #1

Not your usual IPO True Earthling May 2012 #2

You got that right. More like a penny stock (pump and dump) IPO. n/t teddy51 May 2012 #3

Morgan Stanley reported that . . . aggiesal May 2012 #12

"Sell"?? Surely you mean DUMP, right? kestrel91316 May 2012 #4

i always thought there was a 6 month hold on insider selling post ipo. unblock May 2012 #5

I thought that too.... Jello Biafra May 2012 #6

That's the general rule for a merger/acquisition True Earthling May 2012 #7

Insiders can sell in the ipo, but do have to wait to sell Lucky Luciano May 2012 #9

I believe that's correct - a condition required by the underwriters to protect their commitment... True Earthling May 2012 #11

Zuckerburg had to sell to pay taxes on exercised options. nt Lucky Luciano May 2012 #8

Hardy a pump and dump. former9thward May 2012 #10

That's NORMAL. Taxes, y'know. TahitiNut May 2012 #13

Not Much Pump Or Dump... KharmaTrain May 2012 #14