You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Red Sox Live

6

0

▲  3rd Inning 0 outs

market movers

Facebook drops on advertising sales concern

There is also concern that businesses are spending less to advertise on the world’s largest social-networking website.

Paul sakuma/Associated Press

There is also concern that businesses are spending less to advertise on the world’s largest social-networking website.

Continue reading below

Facebook Inc. slumped to a record low after a pair of brokers cut their price targets on the stock, citing the combined weight of massive share lockups and signs of a weakening advertising business at the social network. Bank of America Merrill Lynch and BMO Capital Markets both cut their price targets on Facebook. A major issue weighing on Facebook is the expiration of post-IPO share lockups. About 271 million shares were released in mid-August, while more than 1.3 billion shares will become available for trading by mid-November. Investors worry the influx will push down the price if insiders like early investors and employees rush to sell their shares.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.