Second, the longer the lock-up period, the higher the IPO P/E ratio.

风险投资的持股锁定期越长，公司的发行市盈率越高；

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Earlier this week, the post-IPO lock-up period expired for insiders holding 234 million Facebook shares.

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Facebook (NASDAQ:FB) continues to perform extremely well since its most recent IPO lock-up expiration.

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Facebook still faces enormous additional supply coming into the market as post-IPO lock-up agreements covering well over 1 billion shares expire in the coming months.

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