Facebook's Stock Sinking Like A Rock

Facebook’s stock on Wednesday took its worst fall in more than five weeks on what Bloomberg reports to be concern that employees will start selling their shares now that prohibitions on insider sales have ended. “Shares of Facebook fell 5% … and earlier touched $20.73 for the biggest intraday decrease since Sept. 24,” Bloomberg reports. The lockup was originally put in place to prevent a rush of shares immediately after the company’s initial public offering in May.

Read the whole story at Bloomberg »
Tags: facebook
Recommend (3) Print RSS
All content published by MediaPost is determined by our editors 100% in the interest of our readers ... independent of advertising, sponsorships or other considerations.