Facebook Employees Can Now Sell Stock

, Posted: Mon, October 29 2012 at 8:04 AM, Updated: Mon, October 29 2012 at 8:05 AM

Starting Monday, current and former Facebook employees can sell their company allotted stock for the first time, however the stock market is closed due to Hurricane Sandy.

Overall, employees own more than 230 million shares, or about 11-percent of the company's $2.1 billion total shares.

Financial insiders say lifting the ban could flood the market with Facebook stock, causing the price to plummet. 

Facebook stock has struggled to gain value since the company's initial public offering last May.

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