Facebook shares plunge 6 percent at end of 'lock up period'

Facebook shares plunged yesterday after insiders and early investors had their first chance to sell yesterday.Stocks fell 6 percent Thursday, nearly half its value of

YONKERS - Facebook shares plunged yesterday after insiders and early investors had their first chance to sell yesterday.Stocks fell 6 percent Thursday, nearly half its value of $38 per share since it went public in May. On an average day, 30 million shares are traded, but yesterday that number rose to 155 million, flooding the market with more shares and dropping stock value. In other financial news, Macy's is suing rival department store J.C. Penney, claiming an exclusive right to sell certain Martha Stewart Living goods. The lawsuit seeks unspecified damages and an order blocking the Penney-Martha Stewart Living deal.

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