insiders from selling stock within the first 180 days of a company's IPO, which could potentially send shares lower.
The bank made an exception and will let the charity sell the shares starting Friday, Oct. 3. That's nearly two months before the lockup period expires late November, which is when GoPro (GPRO) managers and directors can start selling.
GoPro's head honcho just announced his new charity, called the Jill + Nicholas Woodman Foundation, on Wednesday. A press release says that details about its mission will be announced "at a later date."
Yes, GoPro investors should be upset by Woodman's charity gift as it was a decision made without the investors opinion, and cost them money. If Woodman would like to make a charity gift that is fine, but it should not have had an impact on the stock prices and the overall value of the investors holdings.
Go pro is a reputable company, and makes a lot of money. I do not understand why anyone would be upset over 7% going toward a good cause. In fact, I have gained more respect for GoPro after learning that they donated a large amount. I would be more likely to purchase form GoPro in the future.
The company is doing well and has been making investors money. Some people should understand that a company can do what it wants with it's money. If investors don't agree with it, they can invest their money elsewhere. Donating to Charity shouldn't be a reason why they are upset with a companies losses.