ZDNet: Transmeta shares drop as lock-up ends May 8, 2001, 15 :03 UTC (5 Talkback[s]) (5771 reads) (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.
