What the Facebook Skeptics Know
What Wedbush Securities analyst Michael Pachter on Thursday called “media hype” about Facebook’s lockup expirations, I would call market transparency.
Thanks to the intense media scrutiny Facebook has received, retail investors now know more about the company than perhaps those on Wall Street would like. They know that more than 1.3 billion Facebook shares will become available for sale by insiders between now and year’s end.