(NEW YORK) — Shares of Facebook dropped Wednesday upon news that employees can start selling restricted stock in the company.
In all, 234 million more shares and stock options held by employees and executives at Facebook could potentially hit the market.
CEO Mark Zuckerberg has made it clear he’s not selling — at least not immediately. He said he won’t sell until next September at the earliest.
Facebook stock has struggled since its IPO in May, but did see a boost last week when Facebook posted strong third-quarter earnings.
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Jose Pagliery, CNN
Madison Park, CNN
Aaron Smith, CNN