What is the logic here?

[aniladitya]

Excerpt from CNBC on LYFT

"More than 41.6 million shares changed hands on Monday after 71.5 million shares were traded on Friday. The company only sold 32.5 million shares in the offering, so the market is seeing more traders than long-term buyers."

How come volume is greater than total shares sold in the offering?

 

[maxinger]

nothing abnormal

volume traded can be > # shares available

 

[deltastrike]

Excerpt from CNBC on LYFT

"More than 41.6 million shares changed hands on Monday after 71.5 million shares were traded on Friday. The company only sold 32.5 million shares in the offering, so the market is seeing more traders than long-term buyers."

How come volume is greater than total shares sold in the offering?

I buy 10 shares at x and then sell 10 shares at y. Total volume = 20 via two transactions.

 

[smallfil]

Excerpt from CNBC on LYFT

"More than 41.6 million shares changed hands on Monday after 71.5 million shares were traded on Friday. The company only sold 32.5 million shares in the offering, so the market is seeing more traders than long-term buyers."

How come volume is greater than total shares sold in the offering?

The same volume can be sold and re-sold by traders over and over again. Also, they mentioned on CNBC that there was a secondary offering meaning LYFT sold more shares after the IPO diluting those initial shares. The float is what is available to trade as most top officials and big investors usually, hold onto their shares and do not normally trade it.