Photo: Vecherniy Urgant
This is unexpected!Facebook is starting the morning on a tear, jumping as much as 10%.
Most people thought it would tank because 800 million shares of the stock are no longer locked up. Facebook employees who have been getting stock are free to trade. Presumably, they would sell, flood the market, and depress the price.
We’re not sure what’s going on, but maybe investors had factored in the worse for the stock, which didn’t happen, and now it’s up.
Anyway, if you are a Facebook employee and you did want to sell, today is a better day to do it than yesterday.
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