Unshackled tech investors dash for exits as ‘lock-ups’ expire

Every retailer knows that if the merchandise isn’t moving, adding more to the shelves isn’t smart. Unfortunately, that’s what New York tech startups are doing with their beaten-up stocks.

Unwanted tech shares are flooding the market as corporate insiders become free to finally cash out of positions they couldn’t sell for months.

Consider the case of Latch, no stranger to these pixels and pages. Shares in the unprofitable maker of phone-activated locks fell nearly 20% over the past week heading into Tuesday, compared with just a 0.6% decline in the Nasdaq. Analysts at Keefe Bruyette & Woods reckon that’s because effective June 4, insiders could start dashing for

→ Continue reading at Crain's New York Business

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