End of staff 'lock-in' hits Facebook shares
Thursday 01 November 2012
Shares in Facebook fell 4 per cent on Wall Street yesterday, as employees were finally able to start trading their stock in the social network as New York's stock markets reopened.
A "lock-in" preventing staff from trading in the company expired on Monday, but Superstorm Sandy closed the Nasdaq, where Facebook trades, as well as the New York Stock Exchange for two days at the start of the week.
Facebook suffered a painful public debut earlier this year, as investors worried about the company's ability to keep up revenue growth and the large pool of additional shares in the lock-up which are now hitting the market.
More than a billion Facebook shares held by employees, insiders and early investors are set to become available for trading by year's end.
- 1 Jennifer Lawrence scores first UK top 40 single with Hunger Games track 'The Hanging Tree'
- 2 Shia LaBeouf claims he was raped during #IAMSORRY art installation performance
- 4 Scientists predict green energy revolution after incredible new graphene discoveries
Obama: The only people with the right to object to immigration are Native Americans
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
David Cameron sets out immigration reforms: We should distrust Ukip and their 'snake-oil of simple solutions'
Ukip mocked after mistaking Westminster Cathedral – for a mosque
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
iJobs Money & Business
Excellent Package: Austen Lloyd: EAST ANGLIA - SENIOR SOLICITOR LEVEL ROLE** -...
£Attractive Package: Citifocus Ltd: Prestigious asset management house seeks a...
£Negotiable: Citifocus Ltd: This is a varied role focusing on the firm's mutua...
£90000 - £140000 per annum + benefits: h2 Recruit Ltd: Are you a high achievin...