Facebook Shares Are Getting Hammered On Lockup Expiration Day

Everybody knew that today was the day when insiders could dump millions of Facebook shares for the first time after the IPO.

Earlier this week we listed the insiders who could sell up to 268 million shares.

And yet despite everyone being totally aware that this was going to happen, the stock is tanking.

It’s down about 6 per cent and it has fallen below $20. In fact it as hit a new low.

From Yahoo Finance.

image

Photo: Yahoo Finance

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

facebook sai-us