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ZDNet: Transmeta shares drop as lock-up ends

May 08, 2001, 15:03 (5 Talkback[s])
(Other stories by Matthew Broersma)

ZDNet reported that Transmeta stock has dropped significantly as post-IPO restrictions on selling shares end:

Shares in chip-maker Transmeta plummeted 23 percent on Monday after investors were freed from a restriction on selling stock.

By the end of trading on the Nasdaq exchange, the shares had dropped $3.40 to $11.17. The slide was only the latest in a long decline -- matched by many other high-tech companies -- that has seen it fall from a high of $50 over the last few months. The company debuted on the stock market on 7 November last year.

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