Facebook off as lock-up ends

Investor's Business Daily

The social media giant tumbled 3.8% to 21.11 on the first day employees were able to sell restricted stock. The IPO lock-up period had expired Mon., but the massive storm Sandy kept markets closed until Wed. In all, 234 mil additional Facebook (FB) shares and stock options held by employees as of Oct. 15 became eligible for sale, though CEO Mark Zuckerberg has said he won't sell any until at least next Sept. Shares are off 44% since the disappointing May IPO.

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