I was going by this article which stated that their lockups end on Wednesday. However, after your post I checked the Nasdaq site (DANGYOKU) and you are correct that they expired yesterday.
YOKU down 8% today and DANG down 7.25% today after both selling off yesterday. DANG is at its alltime low and selling is accelerating.
The Chinese internet space has been getting hit hard lately with SINA, SOHU, BIDU all down 20%+ off last month's highs.
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