acebook's stock fell on Wednesday as employees of the social networking site were able to to sell their shares for the first time. The lockup period expired for 229 million shares on Monday, but since the markets were closed for two days due to Hurricane Sandy, this was employees' first chance to sell. Facebook's share price dropped more than 4 percent earlier in the day, though it has recovered a bit since. Facebook shares are down more than 40 percent since the May IPO.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why is American internet so slow?
- 7 ways to be the most interesting person in any room
- What would a U.S.-Russia war look like?
- What the collapse of the Ming Dynasty can tell us about American decline
- 22 TV shows to watch in 2014
- 10 classic Sesame Street moments we wouldn't show today's kids
- Colorado’s new ‘drive high, get a DUI’ commercials are actually pretty clever
- Who are the real gay marriage bigots?
- Ukraine's fraught relationship with Russia: A brief history
- Sorry Belle Knox, porn still oppresses women
Subscribe to the Week