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Insiders sell almost $2 billion worth of Meta stock

Who owns Meta?
Elmaz Sabovic

There’s been a noticeable increase in insider selling activity lately, with several CEOs offloading their company shares. This has raised concerns among traders about the future performance of these stocks. Facebook, now known as Meta (NASDAQ: META), is no exception to this trend.

Mark Zuckerberg, the CEO of Meta, sold an additional $100 million worth of Meta stock yesterday following the passage of the bill to ban TikTok in the House. This brings his total META stock sales to $1,775,351,428.026.

META stock sales by Mark Zuckerberg. Source: unusual_whales
META stock sales by Mark Zuckerberg. Source: unusual_whales

Why is Mark Zuckerberg selling META stock?

Despite Zuckerberg’s sales being pre-announced to avoid negative assumptions about Meta stock’s future, there are still numerous potential reasons for the sales, largely speculative.

Analysts suggest that some CEOs sell their shares because they believe their stocks are fully valued and want to capitalize on current stock prices. 

Additionally, concerns about the impact of the upcoming US presidential elections on the market are noted. Taking advantage of current tax breaks initiated during the Donald Trump administration is also cited as a reason for stockholder activity. 

However, American Hartford Gold highlights a more ominous scenario: These large sell-offs could indicate an imminent economic downturn, with Senior Director Mechi Block suggesting that CEOs are selling before a potential tech bubble bursts.

Determining the true reason behind these sell-offs may be difficult, but it’s recommended for investors and traders to remain vigilant and aware of the situation.

META stock price chart

Despite recent significant sell-offs, META stock appears to perform well in 2024. The latest closing price was $491.83, showing a slight retracement of -0.75% in the last trading session, contributing to a loss of -4.39% over the past five sessions.

However, taking a broader view, the year-to-date (YTD) chart reveals an impressive gain of 42.03% for META shares.

META stock YTD price chart. Source: Finbold
META stock YTD price chart. Source: Finbold

Even with Zuckerberg’s substantial sell-offs, META stock has demonstrated exceptional performance during the same period, reaching a new all-time high of $512 on March 7.

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