Facebook's (FB) institutional investors are taking advantage of the boosting of the company's...
Wednesday, May 16, 2012, 11:02 AM ETFacebook's (FB) institutional investors are taking advantage of the boosting of the company's IPO offering size and price range to cash out. According to its latest S-1, VC backer Accel Partners will sell up to 28% of its stake, while Peter Thiel, Goldman Sachs, and Tiger Global each plan to sell up to 50%. Facebook's IPO insider selling is much higher than that seen for LinkedIn, Groupon, and Zynga's offerings, and is arguably a warning for investors tempted to chase the stock after it opens.
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