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The term for this is "bagholder".

Congratulations to whomever was on the sell side of this today. Sucks to be an employee who is locked up for 180 days.

It only sucks to be an employee if his shares or options are contingent on a market cap above the current price.

I was a GRPN employee at IPO and I can confirm that even with your stipulation, it sucked.

GRPN and TWTR are not the same. I can assure you, that things worked out just fine for GOOG employees. GRPN was very clearly broken. TWTR is not. Whether it is worth this or not I don't know, but I wouldn't expect it to behave like GRPN.

No, it sucks to be an employee because it is possible that a material part of your wealth is now in a casino, your tax liability just matured, but your ability to pay for it is riding a train with a potential to crash, and all you can do for the next 180 days is watch.

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