Business
Transmeta down after lockup expires
Transmeta fell Monday when more than 113 million shares flooded the market to be sold as the chipmaker's initial public offering "lockup" period expired.Shares of Transmeta (tmta) were off $3.
Transmeta fell Monday when more than 113 million shares flooded the market to be sold as the chipmaker's initial public offering "lockup" period expired. Shares of Transmeta (tmta) were off $3.43, or 23 percent, to $11.14 in morning trading.
A "lockup" arises from a Securities and Exchange Commission rule that prevents insiders from selling shares for 180 days following an IPO. Full story. --Margaret Kane, ZDII