Investors appear to be getting the message
"There are a couple possible explanations here:Snap stock didn’t tank on Monday, the day its employee lockup expired - Recode
Snap’s stock closed Monday at $13.67, down 43 percent since its $24 trading price on its IPO day in March."
- Snap’s stock is near an all-time low. No one wants to sell at the bottom.
- Even though the lockup expired, Snap’s current employees couldn’t really sell on Monday. Snap reports earnings next week, and employees are in a pre-earnings blackout period, which means that even though they are finally allowed to sell, they’re not actually allowed to sell. A lot more shares will most likely be eligible for trading beginning Aug. 14.