It wasn't supposed to end like this, the WSJ writes.. Fidelity Investments was an early buyer of
Facebook Inc. FB -3.98% shares. In the spring of 2011, two dozen of its funds
bought more than $200 million worth of the company's private stock. Then, when
Facebook went public in May, many of those funds and other Fidelity funds
loaded up on publicly traded shares.
Now, many of the giant Boston-based company's fund managers
are shrinking their stakes. Twenty-one
Fidelity funds sold more than 1.9 million public Facebook shares combined in
June, with 16 of them selling more than a quarter of their stakes in the
company, according to investment-research firm Morningstar Inc. Private shares
can't be traded until later this year.
It is unclear whether the Fidelity funds made or lost money
on the Facebook shares...
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