773M Facebook Shares Could Hit Market Wednesday
This coming Wednesday will not be your ordinary “hump day” at Facebook, as 773 million shares of the social network could be released into the market as another lockup period expires.
This coming Wednesday will not be your ordinary “hump day” at Facebook, as 773 million shares of the social network could be released into the market as another lockup period expires.
CNET reported that 773 million common shares and 31 million restricted stock units will be eligible for sale Wednesday, adding that the expiration of the most recent lockup period, at the end of October, drove Facebook’s share price down 3.4 percent.
Facebook Co-Founder and CEO Mark Zuckerberg can legally sell 504 million of his shares Wednesday, as well, but he announced in Septemberthat he would not sell any shares in the social network for at least one year.
Next up after Wednesday, according to CNET: Dec.
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