Thiel sells 20.1 mln Facebook shares post-lockup Peter Thiel, the first big outside investor in Facebook Inc. FB +5.04% , has sold more than 20 million shares of his stock in the social-networking firm, according to a Securities and Exchange Commission filing late Monday. Thiel, who is also a Facebook director, sold sizable chunks of his holdings in the company on Aug. 16 and 17, with most trades just shy of $20 a share, and with about 7 million shares for as low as $19.27. Late last week, the lockup period for early Facebook investors expired following its initial public offering, unleashing about 271 million shares for sale on the market. Shares of Facebook, which debuted at $38, rose 5% to close Monday at $20.01 a share.
U.S. stocks pared their losses Monday to close virtually unchanged as investors waited for events later in the week, including the minutes from the Federal Reserve’s last meeting, slated for release in two days.
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