from Hacker News

BuzzFeed stock is down 37.90%, the day employees and executives lock up expires

by i0exception on 6/8/22, 1:36 AM with 1 comments

• by rvz on 6/8/22, 3:12 AM

  One of the most disastrous SPACs I have seen so far. Not sure why this Twitter user is looking at a 1 day timescale; since of all time, the stock is 80% down since public listing.

  Like I've said before, the employees have still created great shareholder value and have been part of a magnificent pump and dump by SPAC investors who got out before it was listed. [0]

  That right there is also what you call an 'exit scam'.

  [0] https://news.ycombinator.com/item?id=29527155