Facebook co-founder Moskovitz scrambles to offload his shares(theregister.co.uk)
theregister.co.uk
Facebook co-founder Moskovitz scrambles to offload his shares
http://www.theregister.co.uk/2012/08/30/facebook_cofounder_sells_shares/
8 comments
Unless my math is off, or I'm misreading the article... that's about 1% of his total shareholding he's sold. How is this a scramble to offload shares? It seems more like a pretty minor (and sensible) liquidity transaction.
Quite. If one has all (or most) of their personal wealth tied up in one venture, it's only prudent to release a proportion. Of course, where he stops selling will be the interesting part...
I would love if these articles more accurately described the situation as ...
"Moskovitz joins a number of early investors who are now
unloading shares to diversify their investment portfolio
as is common with many people who've previously had the
majority of their net worth tied up in one investment."
... instead of ... "Moskovitz joins a number of early investors who've jumped
at the chance to reduce their stake in the social network
after its dismal IPO and subsequent lack of popularity with
traders."He sold 1.3m shares out of the 113mil he has? "Scrambles to offload his shares" = 1.1%?
the news people gotta eat too
Rats leaving a sinking ship comes to mind...