PDM Stumble
The price of the Piedmont REIT increased today.  (Don't worry, this blog is not going to post daily price updates.)  I think that part of the reason the price is holding up is that the original shares are not yet able to trade.  These shares were sold as a direct investment, and therefore were not in brokerage accounts.  The newly listed shares need a securities number and have to be put in brokerage account before they can be sold.  If you listen closely, you can here the howls of frustration rising from brokerage firms across the country that are fielding questions from anxious investors.  I suspect the shares will start arriving in tradeable form in brokerage accounts late next week.  We'll see how the price holds up then.  Remember, only 25% of the existing share were made liquid on the initial IPO.