Twitter is so deeply ingrained in the cultural conversation that its initial public offering is likely to be a hot topic on its trend-setting service for the next few months. Its stock market debut is also likely to be the most scrutinized coming-out party since Facebook went public in May 2012 and promptly flopped.
Facebook CEO Mark Zuckerberg didn’t really want to take his company public last year, but he has changed his mind now that the Internet social network’s stock is steadily rising.
Facebook’s chief operating officer, Sheryl Sandberg, has sold $91 million worth of shares in the social networking company.
Nasdaq has agreed to pay a $10 million penalty to settle federal civil charges after regulators said its systems and decisions disrupted Facebook’s public stock offering last year.
Facebook CEO Mark Zuckerberg reaped a gain of nearly $2.3 billion last year when he exercised 60 million stock options just before the online social networking leader’s initial public offering.
Facebook’s stock was down sharply after an article in the financial magazine Barron’s said it is “still too pricey” despite a sharp decline since its initial public offering.
Facebook CEO Mark Zuckerberg is acknowledging his company’s falling stock price, but he says Facebook has overcome hurdles before.
In an SEC filing late Tuesday, Facebook said that founder and CEO Mark Zuckerberg “has no intention to conduct any sale transactions… for at least 12 months.”
Facebook co-founder Dustin Moskovitz shed 450,000 shares of Facebook in the past few days for proceeds of about $9 million – a tiny chunk of his total stake.
Facebook’s beleaguered stock got an afternoon boost after hitting its lowest level ever earlier in the day.