( 4UMF NEWS ) Facebook Falls Below $18:
Facebook’s stock (FB) fell to $17.55 in Tuesday trading, its lowest point ever, and closed down 33 cents at $17.73, its lowest close since its May IPO. The stock was down 1.8% for the day, and it has tumbled 53% from its IPO price of $38.
Filings also showed that Facebook co-founder Dustin Moskovitz is shedding another 450,000 of the social networking company’s shares, for a take of about $8.3 million. Moskovitz has been selling 150,000 shares a day and disclosing the sales every three days. Including the most recent sales, he still holds about 132 million shares.
The latest filing was made Tuesday and covered sales since last Thursday. He sold shares at prices ranging from $17.56 to $19.42. Moskovitz, 28, was Zuckerberg‘s Harvard roommate when they founded Facebook in 2004. He left in 2008 and started the software company Asana.
A regulatory filing also indicated that Zuckerberg won’t sell stock in the company for at least the next 12 months.