Mark Zuckerberg to hold onto shares for a year

  • Mark Zuckerberg has stated he will not sell any of his shares in Facebook for at least one year in a bid to boost investor sentiment.

    His pledge came as Facebook shares hit an all-time low of $17.55 on Tuesday.

    Zuckerberg owns some 444 million shares of Facebook plus an option to issue another 60 million.

    Facebook shares rose nearly 2 percent in after-hours trading following Zuckerberg’s announcement.

    Fears have been mounting among investors that, as various lock-up periods end, the stock’s value may depreciate further.

    Last month, Peter Thiel, a venture capitalist and one of the social networking site’s earliest backers sold 20.1 million shares after the first lock-up period ended.

    Facebook shares have nearly halved in value since the company went public in May this year.