Facebook Inc.(FB Stock) Price extends falls as Zuckerberg sells shares, Trump allows transition
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UNLOCK OFFER- NASDAQ: FB has been extending its falls despite broader market gains.
- CEO and Founder Mark Zuckerberg sold around $13.5 million worth of shares.
- President Trump greenlighted the transition, potentially weighing on demand for political ads.
Facebook has been having various transparency issues – and as a public company, openness about critical shareholder action is becoming an issue for all those that recently bought NASDAQ: FB stock.
CEO and Founder Mark Zuckerberg sold 49,750 Facebook shares on November 19, at an average price of $217.98 – above Monday's closing price of $268.73. That exchange followed similar sales in the previous days, a move that coincided with a gradual decline in value. Other senior members of FB's management team such as CFO David M. Wehner, Chief Accounting Office Susan J.s Taylor, and VP and General Counsel Jennifer Newstead reduced their holdings.
That may be one of the reasons for the decline in the social behemoth's value. It is essential to note that Facebook's equity declined while the broad tech index NASDAQ advanced.
Another factor that may weigh on the stock is President Donald Trump's authorization to begin the transition process toward the presidency of Joe Biden. The outgoing Commander-in-Chief has been clinging to power and launching a political and legal campaign, claiming fraud. While he did not concede to President-elect Biden, his greenlight lowers the political pressure in Washington.
Facebook has been a beneficiary of the political advertisement from both parties, which has been rising in Trump's time. A drop in divisiveness in the world's richest economy may decrease spending on political ads moving forward. That may also pressure NASDAQ: FB.
FB Stock Forecast
Facebook, Inc. Common Stock (NASDAQ: FB) has been gradually declining since hitting a peak of $294.68 on November 5, shortly after the elections. At current prices, it is nearing the November 2 trough of $261.36.
The broader range consists of the double-bottom at around $250 recorded in late September, while the upside is at the 52-week high of $304.67.
Facebook, which owns Instagram and Whatsapp, has failed to reach a valuation of $1 trillion achieved by some of its tech peers. The sector has been recently struggling with the news of a COVID-19 vaccine, which may depress demand for digital assets.
See Covid Vaccine: Pfizer's success promising for three other efforts, rally may have only just begun
- NASDAQ: FB has been extending its falls despite broader market gains.
- CEO and Founder Mark Zuckerberg sold around $13.5 million worth of shares.
- President Trump greenlighted the transition, potentially weighing on demand for political ads.
Facebook has been having various transparency issues – and as a public company, openness about critical shareholder action is becoming an issue for all those that recently bought NASDAQ: FB stock.
CEO and Founder Mark Zuckerberg sold 49,750 Facebook shares on November 19, at an average price of $217.98 – above Monday's closing price of $268.73. That exchange followed similar sales in the previous days, a move that coincided with a gradual decline in value. Other senior members of FB's management team such as CFO David M. Wehner, Chief Accounting Office Susan J.s Taylor, and VP and General Counsel Jennifer Newstead reduced their holdings.
That may be one of the reasons for the decline in the social behemoth's value. It is essential to note that Facebook's equity declined while the broad tech index NASDAQ advanced.
Another factor that may weigh on the stock is President Donald Trump's authorization to begin the transition process toward the presidency of Joe Biden. The outgoing Commander-in-Chief has been clinging to power and launching a political and legal campaign, claiming fraud. While he did not concede to President-elect Biden, his greenlight lowers the political pressure in Washington.
Facebook has been a beneficiary of the political advertisement from both parties, which has been rising in Trump's time. A drop in divisiveness in the world's richest economy may decrease spending on political ads moving forward. That may also pressure NASDAQ: FB.
FB Stock Forecast
Facebook, Inc. Common Stock (NASDAQ: FB) has been gradually declining since hitting a peak of $294.68 on November 5, shortly after the elections. At current prices, it is nearing the November 2 trough of $261.36.
The broader range consists of the double-bottom at around $250 recorded in late September, while the upside is at the 52-week high of $304.67.
Facebook, which owns Instagram and Whatsapp, has failed to reach a valuation of $1 trillion achieved by some of its tech peers. The sector has been recently struggling with the news of a COVID-19 vaccine, which may depress demand for digital assets.
See Covid Vaccine: Pfizer's success promising for three other efforts, rally may have only just begun
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