Fromt the WSJ: Facebook Inc.'s initial public offering and
its subsequent stock-price tumble have been the subject of so much scorn,
outrage, controversy, criticism and ridicule that to add anymore is just piling
on. But give it a couple of months. By then, you might think there hasn't been
enough criticism. That is because Facebook is still overpriced and it is about
to be walloped by a flood of shares hitting the market.
As the stock stabilizes from its latest wave of insider
selling, an even bigger block, 247 million shares—more than 10% of the
company's shares outstanding—will be available to be sold in October and early
November. But the fun won't end there.
On Nov. 14, another 1.24 billion shares will be added to the float and hit the
market as their lockups expire, according to SNL Kagan. Another way to look at it:….
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