Facebook shares jump 13% as lockup expires
Posted on November 15, 2012 at 10:07 AM EST
Shares of Facebook Inc. rose nearly 13 percent Wednesday despite the freeing up of 804 million shares for trading. The shares held by early investors became eligible for trading Wednesday, following a lockup period to keep the market from being flooded. Facebook (NASDAQ: FB) shares rose 12.6 percent to $22.36, though they remain well below their initial price of $38 on May 18. Read more at the Wall Street Journal.