An
SEC filing disclosing that
WisdomTree [
profile] chairman
Michael Steinhardt and
RE Ventures, an early venture capital backer of the firm, are preparing to sell nearly 30 million of their shares of the company sent the stock price down yesterday. And the story,
reported early on by MFWire, travelled far -- even
the Associated Press took note.
The
AP story has only one detail that didn't appear in earlier reports: that venture capital firm
RRE Ventures, which is selling its 11 percent stake in WisdomTree, has held the stock for over seven years. And so their sale is not surprising, since venture capital tends to target young companies.
A further note on the subject: WisdomTree's stock was
removed from Citigroup's "Top Picks Live" list, though it was still given a "buy" rating by the bank's analysts. It was
added last month.
Meanwhile,
ETF Trends posted a piece on WisdomTree's decision to close three small ETFs, news that
MFWire reported on Friday.
No unexpected revelations in either the
AP or the
ETF Trends piece, but surely WisdomTree execs -- and stockholders -- are hoping for a gentler day of news today.
 
Edited by:
Chris Cumming
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