10:07 AM Are we seeing a repeat of Yelp's lockup expiration? Facebook (FB +9.7%) has shot higher even though 773M shares and 31M restricted stock units are eligible for sale for the first time. Short-covering is undoubtedly a factor, but Pivotal Research argues many institutions were waiting for the expiration to arrive to jump in. One potential risk: unlike Yelp, Facebook's expiration doesn't cover just a handful of insiders owning large stakes, but numerous employees and investors. (Read the comments on this)
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