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| − | Facebook shares have fallen 3.8% on the day employees became eligible to start selling restricted shares in the social networking giant.
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| − | Staff were meant to be able to sell their vested shares on Monday, but US markets were closed for two days due to storm Sandy.
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| − | "Lock-up" provisions on some shares are common in stock market flotations.
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| − | They aim to avoid the volatility that can occur if too many shareholders decide to sell at once.
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| − | However, Facebook's shares, which began trading at $38 in May, have since lost about 50% of their value.
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| − | They closed at $21.11 on Wednesday.
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| − | 'Mistake'
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| − | Michael Pachter, an analyst at Wedbush Securities, said Facebook had timed its "unlocking" badly.
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| − | "I don't really understand why Facebook [chose] to unlock virtually all of its compensation within the year of its IPO (initial public offering), but they did," he said.
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| − | "They made a mistake and set the company up for volatility."
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| − | An additional 234 million shares are now eligible to flood the market.
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| − | Another 777 million shares held by employees, insiders and early investors will become available for trading on 14 November.
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| − | Last week, Facebook reported a $59m (�37m) loss despite seeing third-quarter revenues rise 32% compared with a year earlier.
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| − | The company is struggling to turn its online dominance into profits and investors are worried about its ability to keep growing revenues.
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| − | For more info [http://www.westleyengineering.co.uk/blog/2012/07/ Presswork]
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Nuvarande version från 3 december 2012 kl. 00.42
