2015-09-28

GoDaddy $GDDY Lockup Expiration September 28th, Will Shares Decline?

chart: GoDaddy shares closed Friday, Sept 25, 2015, at $25.72 but fell to $24.50 in after-hours trading
GoDaddy shares closed Friday, Sept 25, 2015, at $25.72 but fell to $24.50 in after-hours trading
 (chart source: google.com)
 GoDaddy [domain name: godaddy.com] NYSE: GDDY is the world's largest domain name registrar. The company has over 13 million customers with over 60 million domains under management. September 28, 2015 ends the 180-day lockup period on GoDaddy Inc. Pre-IPO shareholders may sell their own shares totaling over 38 million, which are more than the 23 million shares initially offered. A potential increase in GDDY stock available could result in a dramatic decrease in the stock price. (source infra).

IPO Lockup Expiration: GoDaddy - GoDaddy Inc. (NYSE:GDDY) | Seeking Alpha: "... 17 individulas and 4 firms, including KKR (Kohlberg Kravis Roberts & Co. L.P. ) hold restricted shares; if even some of these insiders decide to sell, an oversupply of shares available for public sale could send GDDY's share price tumbling down...."

GoDaddy went public (IPO) and started trading on the New York Stock Exchange on April 1, 2015--the stock opened and closed at $26.15 (31% above its higher-than-expected initial public offering price of $20 per share). The IPO valued the company at $5.48 billion although GoDaddy has not made a profit since 2009.

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