Facebook erases much of Monday's gains - 13 WTHR Indianapolis

Facebook erases much of Monday's gains

Posted: Updated:
NEW YORK -

Facebook's battered stock closed lower Tuesday, erasing some of the gains it saw a day earlier.

Regulatory filings revealed Monday after the stock market closed that Peter Thiel, Facebook's first big investor, shed most of his holdings in the social networking icon. Thiel is also a board member.

Thiel originally invested $500,000 in Facebook in 2004. He sold 16.8 million shares in the company's May 18 IPO and another 20 million or so late last week after a lockup period banning the sales expired. In all, he's reaped more than $1 billion from the sales.

On Monday, Facebook's shares hit a new low of $18.75 before bouncing back to $20.01 by the time the market closed. But Tuesday saw the stock dip 85 cents, 4.3 percent, to close at $19.16.

(Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Powered by WorldNow
Links to the FCC website to view WTHR and/or WALV’s on-line public inspection files:
WTHR: https://stations.fcc.gov/station-profile/WTHR   ||   WALV: https://stations.fcc.gov/station-profile/WALV
Individuals with disabilities may contact Jill Pursell at publicfile@wthr.com, or 317.655.5602, for assistance with access to the public inspection files.
Powered by WorldNowAll content © Copyright 2000 - 2013 WorldNow and WTHR. For more information on this site, please read our Privacy Policy and Terms of Service.