Facebook has lost almost $50 billion in market capitalization, or just under half, of its value since its IPO.

The Social Network giant’s shares sank 6.3 percent to a record closing low after the lockup period ended and the early investors were able to sell for the first time since Facebook went public.

Facebook stock, which debuted at $38 on May 18 this year, fell as much as 7.1 percent to a all-time low of $19.69 before ending the day at $19.87.

“The name has pulled back to a point where you can find a level of support, and the volume should have the wherewithal to hold up,” said Frank Davis, director of sales and trading at LEK Securities in New York. “There shouldn’t be excessive pressure on the stock today, but you’ll definitely have some sales.”