On Monday, Buzzfeed’s stock dropped 41% after initial investors were allowed to sell their shares freely due to their lockup period having expired. That places its current valuation at about $300 million, per Yahoo Finance. Its June IPO price was $1.5 billion.

Buzzfeed has suffered from consistent corporate turmoil as its stock has steadily declined. In its very first earnings call, it called for buyouts in its news division, cut its workforce, and lost three top editors.

A Buzzfeed spokesperson attributed the stock fluctuation to having few stock owners, and a very low float, which causes any selling to have undue effect on the stock price.