InfoAnda - Facebook hits new low as first early investor sales begin |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Children still in prison despite new law | 29 June 2011
US to ramp up intel efforts in drug war | 6 June 2009
U.N. rights expert condemns Israeli ruling on Corrie death | | 31 August 2012

Spice up English, with Chinese | 26 November 2010

Forum Views () Forum Replies ()

Read more with google mobile : Facebook hits new low as first early investor sales begin |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Breakingviews Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Video Reuters TV Reuters News Article Comments (0) Editor's Choice Drones used as 3D architecture tools Engineers from Spain's University of Granada are developing an unmanned aerial vehicle capable of flying in and around buildings to construct 3D models in unprecedented detail. Video In China, cheap and cheerful phones outsmart Apple Astronomers find record-breaking galaxy cluster U.S. kids downing more diet drinks Dallas declares emergency over West Nile virus Follow Reuters Facebook Twitter RSS YouTube Read UPDATE 2-US hypersonic aircraft crashes seconds into military test flight 15 Aug 2012 Britain warns Ecuador it could enter embassy to get Assange 15 Aug 2012 Ecuador grants asylum to Assange, angering Britain | 3:57pm EDT Assad's brother may have lost leg in bombing: sources | 4:09pm EDT Dallas mayor declares emergency over West Nile virus 15 Aug 2012 Discussed 138 Obama’s lead over Romney grows despite voters’ pessimism 122 Romney to announce vice presidential choice Saturday 94 Analysis: Are Israelis tough enough for a long war with Iran? Sponsored Links Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Images from Hubble A look at images produced by the Hubble Space Telescope. Slideshow The trials of Julian Assange A look at the troubled recent life of Wikileaks founder Julian Assange. Slideshow Facebook hits new low as first early investor sales begin Tweet Share this Email Print Related News Soros, Coleman among few hedge fund fans of Facebook Tue, Aug 14 2012 Facebook shares dive as deadline for insider sales nears Thu, Aug 2 2012 Facebook's value slides by $10 billion; outlook unclear Fri, Jul 27 2012 Facebook revenue growth skids, shares plunge Fri, Jul 27 2012 Facebook shares pressured by Zynga ahead of results Thu, Jul 26 2012 Analysis & Opinion Questions for Ryan, working for welfare, updates on Olbermann and Facebook Paul Ryan and the rich manâ€™s burden Related Topics Tech » Hot Stocks » Asian Markets » Media » Facebook » In this photo illustration, a Facebook logo on a computer screen is seen through a magnifying glass held by a woman in Bern May 19, 2012. Picture taken May 19, 2012. Credit: Reuters/Thomas Hodel By Alexei Oreskovic and Ryan Vlastelica SAN FRANCISCO/NEW YORK | Thu Aug 16, 2012 2:06pm EDT SAN FRANCISCO/NEW YORK (Reuters) - Facebook Inc shares sank as much as 7.1 percent to a record low after early investors got the greenlight to sell for the first time since the No. 1 social network went public, starting a string of insider lockup expirations expected to pressure the stock for months. More than 270 million shares owned by early investors became available for trade on Thursday. That's more than half the 421 million shares sold in the May initial public offering. Investors were also unnerved by the prospect of about 2 billion new Facebook shares hitting markets by year's end, tripling its shares available for public trading. Most Facebook employees can start selling their shares in November. With Thursday's selloff, Facebook has lost $40 billion, or just under 50 percent, of its market value since its IPO on May 18. The stock, which debuted at $38, hit a session low of $19.69 on Nasdaq, before trading down 5 percent at $20.13 early Thursday afternoon. "Pressure will be back on the shares now that liquidity is back in the market," said Frank Davis, director of sales and trading at LEK Securities in New York. "If (the value of) your holdings has been cut in half, are you going to sit around and risk the rest of that?" Facebook has been wildly volatile, moving more than 3 percent in most sessions. Roughly 64 million shares of Facebook changed hands in the first hour of trading on Thursday, more than double its 50-day daily average of just under 30 million shares. Analysts said it wasn't clear whether the selloff was actually driven by insiders or by other shareholders worried about potential insider selling. Among the largest blocks of shares now available for trading are about 75 million shares owned by Russia's DST Global Limited and Mail.ru. Other potential sellers include venture capital firm Accel Partners and PayPal co-founder Peter Thiel. "I don't think you're going to see all the supply come to market on Day One. People will wait until they think there will be a little bit of a price lift," said Evercore Partners analyst Ken Sena. "You could say some of the concerns got priced in, and now it's a question how much demand is there to absorb the increased supply," he said. Founded in a Harvard dorm room in 2004 by Chief Executive Mark Zuckerberg, Facebook has become the world's No. 1 Internet social network, challenging established Web giants such as Google Inc and Yahoo Inc for consumers' online time and for advertising dollars. MORE SHARES COMING After staging one of the most highly anticipated IPOs in history and becoming the first U.S. tech company to debut with a market valuation of more than $100 billion, Facebook has felt the sting of investor disenchantment. Concerns about the company's slowing revenue growth, and its ability to make money on mobile advertising, have pressured the stock. With Facebook's stock trading at $20, Zuckerberg, 28, who controls a majority of the company's voting power, has now watched more than $9 billion evaporate from his net worth. "You've had a failed IPO, the stock has been cut in half, a sloppy quarter and a big lock-up expiring. Every one of those tends to erode faith," said Michael Binger, a portfolio manager at Gradient Investments, whose firm does not have a position in Facebook. With Facebook still trading at 40 times its expected 2012 earnings - compared to 16 for Google and 14 for Apple Inc - Binger said he did not see a buying opportunity until the company's revenue growth starts to re-accelerate. Another 243 million shares will be released from lock-up between mid-October and mid-November. On November 14, more than 1.2 billion shares will be available for trading. Mark Zuckerberg will not be able to sell his shares until then. "The biggest issue is not this lock-up; it's the November lock-up," said Pivotal Research Group analyst Brian Wieser. If the company's perceived operating momentum doesn't improve by then, he said, "then there's real trouble ahead." GOING SHORT As the insider lockups started to expire, the number of Facebook shares shorted hit a new high of 92.6 million shares on Thursday, according to Sungard Financial Systems' Astec unit, which tracks short interest. That would represent roughly 13 percent of the company's float of 692 million shares. Short sellers borrow shares to sell them, betting that they can buy the securities later at a lower price and make a profit. The cost of shorting Facebook shares has fallen sharply since their debut in May, because the stock is now easily available to borrow. As of Thursday, the cost of borrowing the Facebook shares was about 1.6 percent per annum on an annualized basis, compared to 40-50 percent when the stock made its debut in May. On Thursday morning, 600,000 shares were shorted, "due in part to the relatively inexpensive rate at which short sellers must pay to sell short," said Tim Smith, executive vice president of Sungard's Astec unit. "Even though Facebook's market cap has almost been cut in half since its IPO, many investors believe that shares are still overvalued," Smith said. Short interest has steadily climbed from 25 million shares on May 22 to 92.6 million, according to the data by Sungard. "There are still at least 30 million Facebook shares that institutional investors are willing to lend to short sellers as of this morning, so the cost-to-short should not increase in the near-term, however, investors should continue to monitor the cost-to-short going forward," Smith said. Short interest figures calculated by the Nasdaq Stock Market, which is released on a lagging basis twice a month, shows 61.3 million shares were shorted as of the end of July; the newest figures on short interest will not be released until August 24. (Reporting by Alexei Oreskovic in San Francisco and Ryan Vlastelica in New York, with additional reporting by Angela Moon; Editing by Chizu Nomiyama, John Wallace, Jeffrey Benkoe and Richard Chang) Tech Hot Stocks Asian Markets Media Facebook 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. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Friday, 17 August 2012
Exclusive: Algeria's Brahimi agrees to be Syria mediator
Analysis: Qaeda fight could bog down Yemen reconstruction drive |
Breivik report forces Norway police chief to quit |
Bahrain jails activist for three years over protests |
Jewish settlers suspected of fire-bomb attack on Palestinians |
Samsung expert: Apple damages estimates are overstated |
Facebook hits new low as first early investor sales begin |
Exclusive: Canada minister was prepped if RIM CEO talked takeover |
Cisco jumps on dividend hike, props up network gear makers |
Oracle settles SEC charges over secret India payments |
AT&T says attack temporarily cut internet access |
Dish says it needs wireless partner to build network |
Verizon Wireless clears hurdles in cable spectrum deal |
GameStop slashes sales outlook, raises dividend |
Sobbing Rihanna recalls confusion of Chris Brown beating |
Robert Downey Jr injured on Iron Man 3 set |
Actor Frank Langella talks robots, high heels and Hollywood |
Pussy Riot not a big hit with Russian pop stars |
British singer Lianne La Havas seeks big love in U.S. |
Driver files complaint against actor Depardieu |
Known for teen love, Molly Ringwald now writes of adult betrayal |
Securing Syria chemical weapons may take tens of thousands of troops |
China to issue verdict in Gu murder case on Monday: court |
China's Hu gives show of support for North Korea |
More than 30 died in South Africa mine crackdown: police |
Russia's Pussy Riot face verdict; Putin's tolerance on trial |
Indian PM moves to cool panic as thousands flee cities |
Taliban leader urges insurgents to cut civilian deaths |
Japan to send back Chinese sea activists to avoid row |
U.N. monitors quit, saying Syrians choose path of war |
Ecuador grants asylum to Assange, angering Britain |
Samsung expert: Apple overstates its damages at trial |
Twitter tightens its stranglehold on apps with new restrictions |
RIM plans new contact management features on BB10 devices |
Russia's Pussy Riot face verdict; Putin's tolerance on trial |
Russia's Pussy Riot protesters sentenced to two years |
Hezbollah says can kill tens of thousands of Israelis |
Iran's Ahmadinejad says no place for Israel in new Middle East |
Japan sends back Chinese activists in bid to defuse island row |
China's Hu gives show of support for North Korea |
Polish prosecutors charge head of collapsed gold fund |
Small states squabble over euro zone's future |
Insight: Auto insurers' driver tracking hits wall in California |
Russia's Pussy Riot protesters sentenced to two years |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01