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

Posted Aug 16, 2012

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.