Facebook Dips Below $19 as Lockup End Looms: San Francisco Mover
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Facebook Inc. shares fell to the lowest intraday price in three weeks on concern that shareholders will start selling their shares when a prohibition on the transaction expires.
The stock declined as much as 1.8 percent to $18.87, the lowest since Oct. 19. It had slipped 1.1 percent to $18.99 as of 12:15 p.m. in New York. Restrictions on the potential sale of 804 million shares lift on Nov. 14, followed by another 156 million on Dec. 14.