Facebook Still Needs an About-Face
After Tuesday's close came an announcement that some people hope will signal a new chapter in the continuing Facebook (FB) saga. The company stated in a filing that it wouldn't engage in a secondary offering and that CEO Mark Zuckerberg won't sell any additional shares during the next 12 months. This strategy conveys the impression that the company cares about its plunging stock price, which plumbed new depths yesterday.
Will this be enough stop the bleeding? While it's a nice gesture for Zuckerberg to maintain possession of his 444 million shares, there is still the matter of upcoming lockup expirations, which could cause a further torrent of shares to be unleashed....517 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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