SolarCity: The Icarus Stock
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If that name sounds familiar, it's because Musk is also the founder of PayPal and Tesla Motors (TSLA). His name alone brings a lot of market clout. And it alone may be the key reason that Goldman Sachs (GS) has jumped into the solar business by creating a $500 million fund to finance SolarCity's projects.
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Restricted shares cannot trade on the open market for a certain time after the IPO.
For SolarCity, that time restriction ends on June 11. That's when 60 million shares become eligible for secondary trading. After a ride like SCTY's, we're bound see a lot of profit taking. However, that could provide a great opportunity to pick up shares at bargain prices.
