Well, this was predictable.
For weeks now, pundits, stock analysts and the media have been warning that Facebook shares -- already under pressure for a variety of reasons -- would face a fresh challenge when so-called "lockups" expire, allowinginsiders holding pre-IPO shares to start selling them.
And that's exactly what happened today, doubtless bringing joy to the many short sellers who bet on the stock to fall.
Today's "lockup" expiration was relatively small, with insiders now free to sell 271 million shares, adding to the 421 million already in circulation. Yet it was enough … Read more