FireEye falls on lockup expiration day

|By:, SA News Editor

14.7M FireEye (FEYE -5.3%) shares, or 10% of all outstanding shares, became eligible for sale today.

FireEye had already taken a dive earlier this month after announcing it's selling 8.4M shares on behalf of existing holders ahead of the lockup expiration, as part of a 14M-share stock offering priced at $82. With FireEye now below $74, those sellers got a relatively good deal.

Shares are still up 69% YTD.