This Billionaire Could Lead Charge to Dump Facebook (FB) Stock
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All eyes will be on Facebook, Inc. (Nasdaq: FB) this week as the massive IPO lock-up begins to expire starting August 16th. A recent filing suggests one of the social media juggernauts' original investors could lead the charge by insiders to sell.
Billionaire Peter Theil, co-founder of PayPal, recently disclosed the conversion of 9,297,844 shares of Class B stock into Class A stock. He also owns an addition 18,581,901 Class A shares.
Now Mr. Theil's entire 27,879,785 share stake appears available to be sold upon the lock-up expiration.
Theil also offered 16,844,315 shares in the IPO.
Billionaire Peter Theil, co-founder of PayPal, recently disclosed the conversion of 9,297,844 shares of Class B stock into Class A stock. He also owns an addition 18,581,901 Class A shares.
Now Mr. Theil's entire 27,879,785 share stake appears available to be sold upon the lock-up expiration.
Theil also offered 16,844,315 shares in the IPO.
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