The bad news for people who own shares in Facebook continued on Tuesday as the stock price for the social networking service went down to yet another all time low of $17.73. The stock price is now down well over 50 percent compared to when it launched its IPO back in May.
Some people who bought into Facebook early are now running for the hills and selling off their investment. One of them was Microsoft, an early investor that sold off 20 percent of its stock in the company a few weeks ago.
One person that won't be doing that, at least for now, is the company's founder and CEO Mark Zuckerberg. In a new filing with the US Securities and Exchange Commission, Facebook said that Zuckerberg " ... has informed us that he has no intention to conduct any sale transactions in our securities for at least 12 months."
Zuckerberg did sell off 30 million shares when Facebook's IPO went live at its starting price of $38 a share, which shows he's pretty smart. He still owns 444 million shares in Facebook, along with 60 million shares that are issued to Zuckerberg with the exercise of an option.
Source: SEC filing | Image via Facebook