Mark Zuckerberg is putting his mouth where his money
is, The NY Post reports. Facebook’s hoodie-wearing CEO
publicly pledged not to sell shares for at least a year as the company tries to
head off a potential wave of panic selling.
The move was one of several Facebook disclosed yesterday in
a regulatory filing in an apparent bid to address a deluge of new shares that
could send the slumping stock to fresh lows.
Facebook shares have fallen by more than half since the company went
public at $38 a share in May. The stock fell 33 cents yesterday to a new low of
$17.73.
Zuckerberg sold some stock in the IPO to cover his taxes but
holds 444 million shares of Class B common stock and an option for an
additional 60 million shares. Even
though Zuckerberg is standing pat, Facebook co-founder Dustin Moskowitz
continued to sell…..
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