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Originally Posted by jaisonline
I’ve been long on PLTR since the Direct Listing.
- Just be aware of the 3/18 (3 days after 1Q earnings) share unlocking. 80% of remaining shares are eligible if I read the S1 correctly. The current total shares outstanding is just under 1.9B.
- 20% were unlocked for the 9/30 DL (companies usually only unlock 10% of shares when going public). Some think the extra 10% issues will help with the initial huge unlocking or at least make it interesting as not as many people will immediately sell.
Can someone else take a look to verify the info I typed?
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In regards to the lockup period expiring, I don't think it will be significant. Karl and Thiel owns 10+30=40% of the company. Another 12% is owned by founders fund which is thiel’s VC and it looks like it was a cross fund investment. The earlier funds will likely need to liquidate. 20% is owned by sompo a strategic Japanese insurance company which is creating a JV in Japan.
Out of the cap table about 20% is held by VCs which need to liquidate due to fund life terms. The 60% that is owned by Thiel, Karl and Sompo is not going to be sold. Employee option is peanuts. 20% is the float that is traded already. That leaves about 10% by the VCs. It’s closer to 250 million shares or about 4 days trading volume, which is no big deal. Remember just because the shares unlock does not mean that those shares will be sold and the general sentiment is that PLTR will continue to grow now that they are entering the commercial market with an actual sales team. It isn't a similar situation to $snow where you had very low volume and very low float while their p/s is 4x higher than PLTR. You might see a small dip but that would be a buying opportunity.
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Originally Posted by Xelorpepsi
What is the driving the market up today (e.g. UBER: +4%, ETSY: +13%, FVRR: +7%, DOCU: +6%, etc)? I can't find any news explaining this massive surge and although it's great from a portfolio perspective, it's genuinely worrying to see the stock market turn into a massive casino.
As a side note, which platform(s) do you recommend to get access to high quality financial news? I used to have access to a Bloomberg terminal and Facset, so curious to know what you use for detailed analysis.
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Checkout Benzinga Pro, there are over 20 different mailing subscription lists you can subscribe to ranging from upgrades/downgrades, large option trades, insider buys/sells etc etc. They also have a daily email that is sent in the morning for a market outlook, I also really like Bloomberg's 5 things to start your day daily email.