Facebook?s Stock Price Plunges In Early Trading A Day After The Lockup Expired

Facebook's stock price (NASDAQ:FB) took a nosedive this morning after opening slightly higher from yesterday's close. The stock price opened at 20.08 but quickly started dropping, hitting a new low just 30 minutes after the market opened. This comes just one day after the lockups on Facebook's stock expired, allowing those who invested at the IPO to dump their shares. This caused heavy trading at the beginning of the day, plunging Facebook's stock to all-time lows. About 271 million shares hit the open market from such early investors as Microsoft, Accel Partners, Tiger Global Management, Goldman Sachs and Peter Thiel.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/wP-P_YO1kDM/

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