Mark Holder
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Twilio: New Lows On Secondary Pricing

Twilio (TWLO) closed at $41.06 on the pricing of the secondary offering of 7 million shares at $40 with an over allotment option for another 1.05 millions shares. The communications platform hit a recent low after surging beyond $70 following the successful IPO. 

The bad news for shareholders is that insiders have more shares to dump on any rally in the stock firmly capping any ability for the stock to rally for a long time. 

More research:

Twilio: Overhang To Pressure Stock

Twilio: Why Haven't You Sold Already?

Disclosure: No position