FYI, because MNDY is trading above $206.15, 10% of insiders’ holdings (which amounts to about 4.42mm shares) will be free from lockdown on 9/8/21. Could put some pressure on the stock near term.
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https://www.sec.gov/Archives/edgar/data/0001845338/000110465…
page 50
~40M shares in lockup post IPO. All shares unlock on the earlier of 12/7 and 2 days after second quarterly earnings. ~4.42M shares will unlock early, on 9/8, if share price is (i) higher than $206.15 (33% above the IPO price of $155) on that date, and (ii) the average share price is higher than $206.15 for 10 preceding trading days.
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DASH, SNOW, ABND and several other IPOs of the type where syndicated by Goldman (GS). are also backed by influential venture capital firms, go into public market with a tight float as well as high valuation. One would think the IPO price is already very overpriced and while its true founders but mainly venture capital needs a very profitable an early exit.
Somehow all the referenced IPOs were able to meet these prerequisites which allow insiders to unload a large amount of shares at very high prices…
So for MNDY they need to keep the stock price floating high upto 9/10 September.
It’s just my opinion and maybe just a wild theory but I’ll stay on the sideline for now!
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I never worry about lockup expiration or market timing for that matter.
However, there’s one key difference between SNOW and MNDY IPO.
SNOW was hyped to the max. The valuation was beyond perfection!
On the othe hand, MNDY’s was under the radar and IPO valuation was on the low side. Not only that, it was shorted as soon as IPO by judging the many bearish voices at that time. It’s still slightly below full valuation based on current quarter revenue and growth rate.
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