Accel To Sell Around $1 Billion In Facebook Stock

Posted on Aug 17 2012 - 4:39am by Editorial Staff

Although Facebook stock last traded bit good low at 19.87 per share, -1.33 (-6.27%), CNN reports that about 22 million shares traded in the first ten minutes of the day which means around 271 million shares of social giant are on sale. While, according to CNBC, Accel Partners is planning to sell 50 million shares. The publication called the sell out as the “bulk” of its holdings in the company. On doing some calculations, with price of $20 per share price, the sale would be of worth around $1 billion. For Facebook, since the time the things moving in such a U-turn direction since the time the company turns public, this Accel Partners move can’t be say something “last doing” but possibility there that other too follow the suite.

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