Thursday, July 29, 2021

Facebook Stock Hits All-Time Low as Insiders Get First Chance to Sell

CNNMoney: On Thursday morning, Facebook’s stock price fell to a new low: $19.69. Trading volume was particularly high, with 78 million shares changing hands in the first hour and a half.

Experts say the reason for the high volume and declining price is that 271 million more shares became available for trading. At the time of Facebook’s IPO, employee stock holdings were “locked up” and unavailable for trading for a set number of days. Thursday was the first day that many of those insider shares could be sold. The IPO agreement included staggered lockup periods, so today’s scenario could be repeated several more times over the next nine months.

Many Facebook employees will need to sell some of their stock in order to cover their tax bills.

Similar articles

Latest Articles

Data Science Market Trends...

When famed mathematician John W. Tukey postulated that advanced computing would have a profound effect on data analysis, he probably didn’t imagine the full...

Data Recovery Market Trends...

Data recovery is more important than ever in this era of constant cyber attacks and ransomware. The Verizon Data Breach Investigations Report (DBIR) looked...

Trends in Data Visualization

In a world of big data, visualization is becoming a key skill set that every business must master.  Digital technology has transformed the way businesses...

Microsoft Data Portfolio Review

With a host of analytics services for almost any situation, Microsoft Azure’s data services have got just about every base covered.   In the world...