Shares of Facebook ( FB) were incrementally lower Tuesday ahead of the expiration of a lock-up period for a massive amount of stock held by company insiders. Almost 800 million shares are estimated to become available for trading on the open market on Wednesday. This is the second lock-up expiration that Facebook has dealt with since going public in mid-May. The first lock-up was up in August, releasing some 270 million shares. The stock was down 18 cents, or 0.90%, at $19.89 in afternoon action. Facebook recently reported stronger-than-expected earnings as the company's mobile initiatives showed promise in generating revenue in the third quarter. On an a adjusted basis, the social network earned 12 cents a share on revenue of $1.26 billion for the September-ended period. Analysts polled by Thomson Reuters were looking for 11 cents a share on sales of $1.2 billion.
Interested in more on Facebook? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull