Close
Log in
Please enter your login details

Skip to main content

Shares in Facebook jumped in heavy trading on the Nasdaq. The rise comes as millions of shares held by the company’s staff become available – the largest amount since the social network’s disastrous flotation earlier this year.

About 800 million shares could hit the market as company insiders get the go-ahead to sell for the first time.

“While the lock-up is expiring there is nothing requiring anybody to sell,” said one analyst.

The end of two previous lock-up periods led to Facebook stock suddenly flooding the market, triggering sales and a resultant fall in the share price.

Facebook’s 28-year-old chief executive, Mark Zuckerberg pledged not to sell any shares before September next year.

More about: