Facebook shares fall by 5% as lock-up period ends

[Jack]

BBC wrote:Facebook shares have fallen heavily as the first lock-up period, which stops sales by early investors, ended.

   

Shares fell 4.95% to $20.15 in afternoon trade in New York, down from $20.74 on Wednesday.

About 271 million shares become eligible to be sold on Thursday, which is more than half the 421 million that have been trading since Facebook shares were floated in May at $38 each.

Since then, Facebook's share price has fallen, amid worries over its strategy.

In early trade on Thursday the shares were down by more than 6%.

Lock-ups prevent company insiders from selling their shares in a newly-floated firm, and usually start to expire 90 days from the initial public offering (IPO).

They are designed to prevent the share price from fluctuating wildly if too many investors decide to sell their shares all at once.

Read more on BBC News

[Jack]

Fox News wrote:Facebook stock slides to all-time low

Here's something Facebook investors won't "like."

Facebook stock slid to an all-time low of $18.75 Monday morning -- less than half the initial public offering price, following a disastrous performance last week -- and Mark Zuckerberg saw his own personal fortune halved from nearly $20 billion to under $10 billion.

The social network's stock slumped Friday to $19, losing half its market value since the company's initial public offering in May and ending the week down nearly 13 percent.

Read more: http://www.foxnews.com/tech/2012/08/20/f...-time-low/

Wow...This is much worse that I thought it would be.Surely a bad day for Zuckerberg......