Facebook falls 7% to new low

San Francisco/New York: 

Facebook's shares sank as much as 7.1% to a record low on Thursday, shedding more than $4 billion of market value after the first of several stock lock-ups that prevented insider sales came to an end. Thursday's drop took Facebook's total loss since its debut in May at $38 to just under 50%, or $40 billion. 
    The stock tumbled 6.2% to $19.90 on Nasdaq. It hit a session low of $19.69. 
    More than 270 million shares have been unlocked — more than one-half of the 421 million shares sold in the May initial public offering of the social networking company. REUTERS