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Facebook needs someone to 'like' it
By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) — Facebook Inc.’s shares tumbled to a record low on Thursday as the post-initial public offering lockup on about 271 million shares expired, making them available for insiders to sell to the open market.
Facebook was trading down about 7% at $19.80, after hitting an intraday low of $19.69. The stock has lost nearly half its value since its May IPO when it priced at $38.
Facebook’s stock has taken a hit as the social networking behemoth reeled from its controversial public trading debut and faced questions about its ability to grow its business.
The stock could feel more pressure as more than 1.3 billion shares are expected to be made available to the market before the end of the year as their lockup deadlines also expire. ..............(more)
The complete piece is at: http://www.marketwatch.com/story/facebook-falls-to-record-low-as-lockup-expires-2012-08-16-101034629?dist=lcountdown
