Reuters: Most Read Articles: Facebook shares drop 4 percent, hit another low

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Facebook shares drop 4 percent, hit another low Aug 17th 2012, 16:45 Tweet Share this Email Print Related News Facebook plumbs new lows as sales curbs start to expire Thu, Aug 16 2012 Global stocks rise on Merkel remarks, dollar slips Thu, Aug 16 2012 Groupon sheds quarter of its value as Street questions biz Tue, Aug 14 2012 S&P 500 ekes out gains to run streak to six days Fri, Aug 10 2012 Knight trading loss shows cracks in equity markets Fri, Aug 3 2012 Analysis & Opinion Facebook's market meltdown is far from over Knight Capital crisis brings new push for rules on trading, technology, structure The Facebook logo is shown at Facebook headquarters in Palo Alto, California May 26, 2010. Credit: Reuters/Robert Galbraith By Alexei Oreskovic SAN FRANCISCO | Fri Aug 17, 2012 12:45pm EDT SAN FRANCISCO (Reuters) - Facebook Inc shares sank as much 4.3 percent on Friday to set a new low, a day after early investors got the green light to sell for the first time. More than 270 million shares owned by the early investors became available for trade on Thursday after a 3-month curb on sales ended. That's more than one-half the 421 million shares sold in its initial public offering on May 18. Facebook hit a low of $19.01 Friday morning and were down almost exactly 50 percent from the $38 offering price at its May IPO. At midday, the stock had eased to $19.15, off 3.5 percent. Nearly 62 million shares of Facebook traded hands in the first two hours of trading on Friday. More than 1.4 billion additional shares held by early investors and Facebook employees are set to become available for trading by year's end, adding further pressure on shares of the once high-flyer. Facebook, the world's No. 1 Internet social network founded by Mark Zuckerberg in his Harvard University dorm room, became the only U.S. company to debut with a market value of more than $100 billion. But investors have grown disillusioned with Facebook's inability to articulate a plan to reverse slowing revenue growth. (Reporting By Alexei Oreskovic; editing by Jeffrey Benkoe) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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