Meta’s shares slip as CEO Zuckerberg sells $190 million worth
Meta Founder and CEO Mark Zuckerberg sold around $190 million in the company’s stock last month, the media reported.
With the stock closing at $327.15, the value of the shares sold would be $192.9 million, the report noted.
Zuckerberg sold Meta shares every day in November, for a total of 560,180 shares last month, reports Market Watch.
According to Form 4 filings with the US Securities and Exchange Commission (SEC), he placed orders to sell another 28,009 shares on November 29.
The bulk of the shares sold were acquired in 2004 as part of a “founder stock purchase.”
Nearly 150,000 of the shares sold were acquired for $0 on the days they were sold through the exercising of options acquired in 2013, according to the report.
Meta registered $34 billion in revenue in its third quarter, up 23 percent from the same quarter last year.
Total costs and expenses were $20.40 billion, a decrease of 7 percent (year-over-year) in the September quarter. Net income rose 164 percent from a year earlier to $11.58 billion in the quarter.
However, the company is still 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 close to $25 billion since the start of last year.
[With Inputs from IANS]
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Not to forget mind reading through Instagram !! Combining Facebook posts + likes / dislikes in Instagram. (mostly vulgar or soft porn), used by budding photoshop experts to improve skills on photo morphing & creating deep fakes.
1) Facebook utility is over due to perfection achieved in AI (face recognition).
2) User profiles, data is sold to many & reach saturation with no accounts getting added, not worth maintaining such huge employees.
3) Facebook & Twitter both are mapped in CIA head quarters for AI perfection & training or programing artificial robots i.e. RoboCop-1, 2, 3…..etc..
4) With voice signatures from Amazon – Alexa.
5) It will scale down its operations to bare minimum, for further growth is limited & Buyers of its data have reached their programming saturation & does not want any more data.
6) Android data is harnessed by Google for 5G -10G technologies – habits, face & speech recognition, food choices, medical history & many many more