Facebook Falls by Half From IPO After Insider Sale Lock-Up Ends

Facebook Inc. fell to a record low, losing almost half its value since an initial public offering in May, after the lifting of restrictions on share sales by its biggest investors.

Shares in the world’s largest social-networking service fell 4.1 percent to $19.05 at the close in New York yesterday. Facebook had dropped to as low as $19, after the number of shares available for trading increased 60 percent two days ago.