Comment by x0x0 | Hacker News Reader

Comment by x0x0 | Hacker News Reader

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Good thing Pincus sold off a bunch of stock [1] -- $190mm worth [2]. Even better, he sold it before the employee lockup expired [3]. Living like a boss == fuck you money in the bank, instead of locked up in a company like suckers (employees and investors). From the stock charts [4], it looks like it closed opening day at $9.50, Pincus and insiders dumped at $12, and if you're a regular employee w/ a 6mo lockup that presumably expired 16 Jun since the company opened 16 Dec 11, you've never seen a price higher than $6.

ps -- dear employees and investors: your ceo dumping big blocks of stock is probably a negative signal

[1] http://online.wsj.com/article/SB1000142405270230472440457729...

[2] http://www.forbes.com/sites/nathanvardi/2012/10/05/zynga-kee...

[3] http://www.huffingtonpost.com/2012/07/31/zynga-insider-tradi...

[4] http://www.google.com/finance?cid=481720736332929

updated to include pricing. Again, selling at 2x your employees == living like a fucking boss.

Completely agree with you on this. A CEO dumping a large amount of stock is usually (but not always) a sign of bad things to come and sends a negative signal to the market.

... but exec share dumping is not unusual and happens like clockwork at most companies despite market conditions. Typically execs sell off their shares on a preset schedule, they sell as much as they can as soon as they can because of the bird in hand and all that. The truly evil execs are those that sell-sell-sell as much as they can while telling their employees to hang onto their shares and wait.

there are so many negative signals from Pincus that its hard to count. in particular, you missed the place where he screwed the employees before the IPO as well.

Woah -- I did not know this happened. Thanks for taking the time to provide sources.

While I feel bad for the employees, some investors should have known better. It was over priced at $12.

It's hard to feel bad for the employees. Unless it was their dream job to work on manipulative valueless flash games that spam people on Facebook, they chose their place of work for all the wrong reasons.

It was over-priced at $.01, apparently

should have bought some puts

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