New wave of Facebook shares hits the market
By The Week Staff | August 16, 2012
Reportedly, 90 percent of Human Resources department workers check to make sure an applicant has a Facebook account under his or her legal name.
CC BY: Spencer E Holtaway
I
nvestors are eagerly awaiting the release of a new wave of Facebook shares, which become available Thursday as insiders and early employees are allowed to sell some of their stock for the first time. This first lockup will make 271.1 million shares available for trading. That's more than half as many as were sold in the social-networking powerhouse's IPO. "You're going to see a lot of volatility," says Scott Kessler of S&P Capital. IQ. "People could sell, and investors are worried about that."
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