Just a couple of weeks before the Facebook-Cambridge Analytica scam surfaced, CEO Mark Zuckerberg allegedly sold 1.14 million shares as a part of regularly scheduled programs. In essence, that was the highest insider selling recorded for the last three months for any public company as per Vickers Weekly Insider.
While there is not a lot suspicious behind the sale as per analysts, the fact that Zuckerberg and another Facebook executive sold the shares $20 above their falling price on Tuesday, and that too, in a noticeable volume, might not go well with the investors.
The report indicates that after Facebook, it was RealPage, Oritani Financial and Vonage that noticed the highest insider selling, with a sale of more than half a million insider shares each.
Also read: Facebook-Cambridge Analytica Data Leak: How The Scam Has Shaken The Politics Worldwide
Zuckerberg had earlier announced plans to sell 35 to 75 million shares over the next year and a half for philanthropic causes. Together with his wife, the Facebook CEO has vowed to give away 99 percent of their company stake to the Chan Zuckerberg Initiative over time.
Since the last three days, Facebook has been experiencing a dip in their stock value following the data breach scam that the company has been involved in.
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