Goldman Sees More Facebook Swings as New Shares Arrive: Options
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While Facebook Inc. has rallied three times as fast as the Standard & Poor’s 500 Index since agreeing to buy WhatsApp Inc. in February, it remains to be seen if that will be enough to keep new shareholders from selling.
As many as 178 million shares, or 8.8 percent of Facebook’s outstanding stock, may enter the market as a lockup on stock sold during the acquisition expires, according to Goldman Sachs Group Inc. analyst Heather Bellini. The shares could become available for trading in the two or three days after Facebook reports earnings on Oct. 28, Bellini said.