Thursday, 2 May 2013

Facebook shares surge as lock-up fear eases -

Analysts cautioned that just because insiders can now sell the shares, it did not mean they would. Given the better than expected third-quarter results, there is an incentive for investors to hang onto the shares, said Mr Wieser.

However, some of Facebook's executives have already taken advantage of the ending of the lock-up, with chief operating officer Sheryl Sandberg selling $11m of shares this month.

Founder and chief executive Mark Zuckerberg, the company's largest shareholder, has pledged not to sell any shares until September 2013. Facebook shares closed at $22.36.

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