Facebook Shares Drop 6 Percent to Record Low

Facebook shares slumped 6 percent to an all-time low Thursday closing at $19,87. It´s its lowest close since the social network went public in May.

It has been reported that about 271 million shares owned by investors such as Goldman Sachs and Accel Partners cleared a mandated lockup period.

Lockup periods provide some early investors and insiders with an opportunity to exit. The next one expires on Oct. 15 (249 million shares).