Facebook’s biggest lock-up period – a time following an IPO that prevents insiders from selling stock – expires on Wednesday.
Shares of cloud-computing firm Workday rocketed higher in their first day of trading on the New York Stock Exchange.
Facebook’s stock was down sharply after an article in the financial magazine Barron’s said it is “still too pricey” despite a sharp decline since its initial public offering.
Facebook CEO Mark Zuckerberg is acknowledging his company’s falling stock price, but he says Facebook has overcome hurdles before.
In an SEC filing late Tuesday, Facebook said that founder and CEO Mark Zuckerberg “has no intention to conduct any sale transactions… for at least 12 months.”
Yelp’s stock is passing one of its biggest stress tests since the online business review service went public nearly six months ago.
Facebook’s beleaguered stock got an afternoon boost after hitting its lowest level ever earlier in the day.
Facebook’s stock fell to $19 for the first time on Friday, meaning it has lost half its market value since the company’s initial public offering in May.
Shares of Facebook plunged to all-time lows after early investors and insiders were allowed to sell their shares Thursday, dimming California’s hope for a capital gains windfall that would help balance the state budget.
Performant Financial Corp.’s initial public offering of 9 million shares priced at $9 per share, below an expected range of $12 to $14.