And is still valued way too high
He still has like 5 months before he can sell his shares and make money.
Not sure if it’ll be before or after the election, but right now valuation only matters if some bank is dumb enough to use the shares as collateral on a loan.
Unless the board allows him to sell before the six-month mark. And considering the fact that the board is made up of his children and other sycophants, there’s a 100% chance they allow it if he asks. He just has to determine if he wants to sell a major stake in the company and potentially tank the stock, which I don’t think he’s shy about doing.
I really thought the 6 month thing for IPOs was a law…
But I really don’t know, I just no it was a weird and probably not intentional loophole when redditors were able to immediately sell their stock they got before the IPO.
Like. I don’t think its a “good faith” thing, if you get in before the IPO because you work for the company, theres no way around the wait.
But I might be wrong