Monday August 20, 2012

Facebook Director Sold 20M Shares

Normally this is the part where everyone would start criticizing this guy for cashing out stock to the tune of $400M. I say "normally" because, for that kind of money, I can't say I blame the guy. wink

Facebook Inc director Peter Thiel sold roughly $400 million worth of shares in the Internet social networking company last week, cashing out most of his stake, according to a regulatory filing. Thiel sold his shares on Thursday and Friday at average prices ranging between $19.27 and $20.69 per share after the end of the first lockup, which barred early investors and insiders from selling shares following the initial public offering.