A tiny bit of news about Twitter for investors this morning.
CEO Dick Costolo, and board members (and former CEOs, themselves) Jack Dorsey and Evan Williams announce that they will not sell any shares when the company’s lock up period ends on May 5.
This is usually a good signal to investors that the top executives believe the stock has room to grow.
However, the rest of Twitter’s employees are probably going to sell a lot of shares.
Twitter is trading around $US40 per share, which is about flat with where it was after its first day of trading. It’s 45% off its high point which came at the end of last year.
Here’s the SEC announcement: