Facebook shares fall by 6% as lock-up period ends

Facebook shares have fallen heavily as the first lock-up period, which stops sales by early investors, ended.

The shares closed on Thursday night in New York at a new low of nearly £13 per share, that's nearly half the price they were floated at in May.

Facebook has faced relentless pressure over the last few months since the trouble-hit launch, to reassure investors about its long term strategy.

Michael Hewson a Senior Market analyst at CMC Markets says Facebook must now look to "justify the rich valuation it's currently trading at".