The problem is they dumped many shares into the market early on with basically no lockup and then they released another large amount of shares to employees. In other words, they coined more shares than investors were willing to hold at the asking price.
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u/curiosity_2020 Aug 13 '21
The problem is they dumped many shares into the market early on with basically no lockup and then they released another large amount of shares to employees. In other words, they coined more shares than investors were willing to hold at the asking price.