Facebook’s Stock Drops Over 6% Today Due To Lockup Expiration Day

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Some of Facebook’s investors like Peter Thiel (27.9 million shares), Accel Partners (135.7 million Class A shares and 7.9 Class B shares), DST Global (5 million Class A shares and 80.6 million Class B shares), Goldman Sachs (41.6 million Class A shares), Elevation Partners (35.5 million Class B shares), Greylock Partners (29 million Class B shares), Mail.ru (36.8 million Class B shares), Mark Pincus (4.3 million Class B shares), Meritech (33.4 million Class B shares), Microsoft (26.2 million Class B shares), Reid Hoffman (3.8 million Class B shares), and Tiger Global Management (1.96 million Class A shares and 32.8 million Class B shares) have the opportunity to sell their shares today.  Shareholders have known that today is the lockup expiration day where insiders could sell after the IPO.  Today Facebook’s stock has dropped over 6% and is trading at around $19.88.  Currently it is unknown who is selling and who isn’t, but it is rumored that Microsoft is in Facebook for the long haul.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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