Facebook founder Mark Zuckerberg has said he will not sell any of his shares in the company for at least a year in a move to boost investor confidence, after shares in the social networking giant sank to a new low.
Zuckerberg, who owns about 444 million shares of Facebook plus an option to issue another 60 million, said he would not be selling any of his stake within the next twelve months. Zuckerberg's plans were announced as Facebook shares crashed to an all-time low of $17.55 yesterday, amid concerns the lock-up periods which prevented early backers from selling their shares may soon push down the share price further. Facebook shares rose nearly 2% in after-hours trading after the announcement, but have fallen over 50% since the company went public in May this year. The shares were valued ...
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