LNKD Update: Insiders permitted to sell 180 days after IPO

Of the 94.5million shares in existence of LinkedIn Corp., there are 7.84 million shares trading in the secondary market. Less than 10% of the total share count floats in the marketplace, perhaps a reason why its currently trading at its current price level. Its a function of supply and demand, and for whatever reason excluding rationality people want to own this dog. Sell it. 

After 180 days insiders are allowed to sell their stock in the market and divest. Given that insiders currently own a whopping 87 million shares, a glut of supply is coming to market as even insiders know that the current market price is astronomical. Lawrence Haverty of Gamco Investors believes insider selling could drive the price below $30/share.

This will be the textbook example going forward of how markets fail, how markets are irrational, how they can be manipulated, and how certain individuals, ahem..underwriters, banks, wall street junkies make a shit load of money at the expense of the public. Its a zero sum game folks, money is neither created nor destroyed, just transfered from one medium to another.