Wish lock up expired May 18th. >50% owned by insiders who cannot sell easily

Wish lock up expired May 18th. S-1 says expires earlier of:
1) second quarter earnings release after IPO or
2) 181 days after IPO

Here is email from Wish IR:

https://preview.redd.it/4vakrnkz7o471.jpg?width=828&format=pjpg&auto=webp&s=6855e4728d5da322e9b066914e582c13120c9a0e

Why do news sites says June 14th? Because Wish is undercovered and it's easy to be wrong. Bloomberg just updated their float from <70M to >300M shares this week.

Wish is 70% owned by the following people:
– Piotr (20%), Founder
– Shang Zheng (10%), Founder

– Formation8 (16%), Joe Lonsdale is Wish board and can't sell

– GGV (7%). Hans Tung is GP and on Wish board so can't sell.

– GA (2.6%). Tanzeen is on board
So ~50% owned by above entities who can't sell due to being on board/insiders

– Temasek (6%), singapore sovereign wealth fund

– DST (~21%), did a pro rata distro to LPs, who might sell. Too lazy to link s-1 doc

– Founders Fund (13%), did a pro rata distro to LPs

40% owned by above entities, with some LPs selling via exercise of pro rata rights.

IB says borrow fee is 11% right now.

Good write up here:

https://twitter.com/baggerholder1/status/1402152638087536653

I'm gonna keep buying. FUCK EVERYONE ELSE. I will buy as it goes down. These short sellers are needledicks

submitted by /u/SeesawLonely
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