Zuckerberg sells $190M in Meta’s shares

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Anjali Sharma

GG News Bureau
NEW YORK, 6th Dec.
Mark Zuckerberg Meta Founder and CEO on Tuesday sold $190 million company’s stock last month, according to the media reported.

Market Watch reported that Zuckerberg sold Meta shares every day in November for a total of 560,180 shares last month.

According to Form 4 filings with the US Securities and Exchange Commission, he placed orders to sell 28,009 shares on November 29.

The report noyted that with the stock closing of $327.15, the value of the shares sold would be $192.9 million.

It said that the bulk of the shares sold were acquired in 2004 as part of a “founder stock purchase.”

According to the report, 150,000 of the shares sold were acquired for $0 on the days they were sold through the exercising of options acquired in 2013.

Meta registered $34 billion in revenue in its third quarter, up 23 per cent from the same quarter last year.

The total costs and expenses were $20.40 billion, a decrease of 7 per cent (year-over-year) in the September quarter. Net income rose 164 per cent from a year to $11.58 billion in the quarter.

The company is burning cash with its Reality Labs division and Meta expects its operating losses there to increase “meaningfully” year-over-year.

Meta’s AR-VR division has lost $25 billion since the start of last year, the report concluded.

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