Twitter falls 7% as lockup expiresComment on this story
San Francisco - Twitter fell 7.4 percent in trading before the market open as more shares became available from insiders who got their first chance to sell since the company’s initial public offering.
The stock slipped as low as $35.90 (R377) as about 480 million shares from insiders became eligible for sale, more than quadrupling the current amount available for trading.
The decline came even as early investors who own at least 205 million of the shares pledged not to sell, declaring confidence in the company. - Bloomberg News