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Shares of Facebook Inc. (FB-Q) dipped below $20 US for the first time on Thursday, pummeled by growing doubts about its growth prospects, a string of recent executive departures, and the August 16 expiration of a lockup period on insiders' share sales.
The stock hit a low of $19.91 in heavy early afternoon trading. It has now lost almost half its value since debuting at $38 in May in the largest IPO ever to emerge from Silicon Valley.