Mark Zuckerberg will sell as many as 75 million Facebook shares, What it means for investors? Is it the time to press the panic button? Wall Street stock market weekly technical analysis
CNBC News Summary:
Mark Zuckerberg Co-founder Facebook will sell a large number of shares over the next 18 months in sales that would be worth between $6 billion and $12.8 billion based on the stock’s current price. The intention to sell between 35 million and 75 million shares was disclosed in a securities filing to the exchange late Friday. Proceeds of the sale will go “to fund the philanthropic initiatives of Mr. Zuckerberg and his wife, Priscilla Chan,” the filing said.