In: Google News
12 Feb 2005Google Lock-up period on more than half its stock ends Monday.Google investors may be more anxious than usual Monday.That is when the door opens for company insiders to sell 177 million shares, well over half the firm’s outstanding stock. The ability for previously restricted shareholders to sell could potentially flood the market with Google stock and cause the firm’s share price to drop, although few experts predict a major decline. Wall Street has been waiting for Monday ever since Google’s high-profile initial public offering six months ago. It marks the end of the company’s so- called lock-up period, a normal condition of an IPO that places limits on when insiders, employees and early investors can cash in. For more on this exciting news click here
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