The default explanation for the share price going down is that the market thinks they're paying too much. And let's face it, $6.5B is pretty toothy. (Remember

The default explanation for the share price going down is that the market thinks they're paying too much. And let's face it, $6.5B is pretty toothy. (Remember when FB paid $1B for Instagram and everybody lost their minds?) But apparently Okta is also going to issue 21% new shares, diluting existing shareholders, so going down only 12% means they're actually kinda-sorta up 9%.