Shares of $TWLO Drop Like a Stone, After Pricing Secondary Deep in the Hole

It’s because of this man, Frederick Wilson, vulture capitalist, Union Square Ventures.

Fred lives an extraordinary life in Brooklyn,Ny — all middle aged hipster and shit, trying to save the galaxy from our carbon emissions. When he’s not eating quinoa salad, he’s ripping off people in the public markets by dumping piece of shit, highly overpriced, companies onto the markets.

Charts don’t apply to any of Fred’s companies. These companies were rigged in the private markets by a cabal of VC’s who created a valuation pyramid scheme. Union Square, if you recall, was behind the Twitter, the Etsy, the Zynga and the and let’s not forget the scam Lending Club — just to name a few.

Every single one of Uncle Fred’s stocks have imploded in a manner of biblical proportions since coming public. Why should TWLO be different? Oh, that’s right, Jim Cramer likes it.

TWLO is dropping like a stone after announcing a secondary offering of 7 million shares at $40, an in the hole offering. Why so deep in the hole? Because the fucking VC pricks own it from $2 and they’re selling 6.36m of the 7m shares.

That’s why TWLO is dropping.