4 ms·
Beyond Meat recently was trading in the open market at $230. They decided they wanted to sell 4% of the company in a secondary offering, and they were only able
by kolbe 7y ago
Beyond Meat recently was trading in the open market at $230. They decided they wanted to sell 4% of the company in a secondary offering, and they were only able to get $160/share.
Tilray had similar problems trying to monetize their high valuation.
The point is that bubbly tech prices in public markets are no less fragile than bubbly ones in private markets.
- ericd 7y agoAh great example, thanks for summarizing. I haven't been following BYND. 4% is a pretty small percentage compared to the amount of float (~91% right now). I wonder if the price would have moved that much if that many shares had been sold unofficially. But yeah, if you sell integer percentages of a company in a short timeframe, you're right that you can't expect to get the current market price. I'm surprised that it moved it so much in this case, though.