https://twitter.com/hypergrowth44/status/1529127767341682689
A significant amount of BZFD’s shares are being unlocked on 1 Jun 22 – >100M shares across all classes out of 135m total shares outstanding. Can’t say how much further this will fall given how much it’s fallen since despac but there could be some near term downward pressure in the short to medium term
Recently reported 1Q results were pretty tragic too with time spent on the platform declining and negative adjusted EBITDA and net income
Saw this and added to watchlist. I would like a better put entry if it pushes back up to 4.50 to 5.50 but need to review more about them. Seems like a pathetic business if financials are that bad. I know it can go lower but it is so low already lol.
However, during the second and much larger unlock we only saw 2 days of downward movement followed by a large spike afterwards.
Both of these also seem like they were kind of just following the trend also. However I think the difference here could be that during this EVGO was averaging 3m volume a day. BZFD only averages around 150k so any kind of small sell pressure could have a large impact on the price.
This was a bomb ass play and wish would have more visibility. I never made an entry but man what a good play. Congrats to anyone that did this as the stock died.
Only buys that were made after the recent big dump. No sales. Was that not an insider dump upon lock-up expiry? Maybe the theory related to Russell rebalancing was actually what caused the dump.
probably pick up more if it pops again
