Peter Thiel Photos on Townhall

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              FILE - In this May 21, 2012 file photo, television correspondent Sabrina Quagliozzi reports from inside the Nasdaq MarketSite in New York's Times Square. Facebook's stock plunged to a n

    FILE - In this May 21, 2012 file photo, television correspondent Sabrina Quagliozzi reports from inside the Nasdaq MarketSite in New York's Times Square. Facebook's stock plunged to a n

    Posted: 8/16/2012 1:33:22 PM EST
    FILE - In this May 21, 2012 file photo, television correspondent Sabrina Quagliozzi reports from inside the Nasdaq MarketSite in New York's Times Square. Facebook's stock plunged to a new low Thursday, Aug. 16, 2012, after the expiration of a ban that had prevented some early investors and insiders from dumping millions of additional shares they own in the social-networking leader. Firms ranging from Accel Partners to Goldman Sachs, Zynga CEO Mark Pincus and Facebook board members James Breyer, Peter Thiel and Reid Hoffman were among those free to sell stock they own, after the lifting of a ban known as a lock-up period. If many of them took advantage of that, Facebook's stock could decline because the market would be flooded with nearly two-thirds more shares. (AP Photo/Richard Drew)