Facebook: Mark Zuckerberg not to sell stock for a year

 

Facebook shares have lost almost half their value amid concerns over future growth and strategy

Mark Zuckerberg has said that he will not sell any of his shares in Facebook for at least one year in a bid to shore up investor confidence.

His pledge came as Facebook shares hit an all-time low of $17.55 on Tuesday.
There have been fears that as various lock-up periods, which stop sales by early investors, end, the stock may dip further.
Mr Zuckerberg owns about 444 million shares of Facebook plus an option to issue another 60 million.
Last month, Peter Thiel, a venture capitalist and one of Facebook's earliest backers sold 20.1 million shares, cashing in most of his stake in the firm, after the first lock-up period ended.
Facebook shares rose nearly 2% in after-hours trading post the announcement.