Insiders DUMPED Shares.. SELLL Facebook director Andreessen sells $54 million in shares
Facebook director Andreessen sells $54 million in shares
Donald Graham, chairman and CEO of the Washington Post Co, who is a director at Facebook, sold roughly $6.7 million worth of Facebook shares on Monday, according to a regulatory filing on Tuesday.
Several executives at the company have also sold shares as the so-called lock-up restrictions on trading have expired.
Facebook Chief Operating Officer Sheryl Sandberg sold roughly $4.2 million worth of Facebook stock on Monday, bringing her total share sales to roughly $15 million in recent weeks, while engineering vice president Michael Schroepfer sold a little more than $1 million worth of shares in recent days.
Andreessen, Graham, Sandberg and Schroepfer all sold their shares as part of pre-arranged stock trading plans.
Yet it continues to stay at these levels. Unbelievable!! This should have been already under $15 with all those insiders selling. Any other stock would have been cremated with all those sells!! That is why this one is pure illegal manipulation in trading going on but that will soon catch up with them.