Facebook below $18: Exec sheds more stock, CEO makes pledge

Facebook stock hit a new low on Tuesday as filings showed that a Facebook executive is unloading more shares and that CEO Mark Zuckerberg is pledging to keep all of his stock for at least a year.
A regulatory filing by the Menlo Park, Calif.-based company also revealed that Facebook is moving up the expiration date of a post-IPO ban on stock sales by employees by two weeks.
Facebook's stock (FB) fell to $17.55 in Tuesday trading, its lowest point ever, and closed down 33 cents at $17.73, its lowest close since its May IPO. The stock was down 1.8% for the day, and it has tumbled 53% from its IPO price of $38.
Filings also showed that Facebook co-founder Dustin Moskovitz is shedding another 450,000 of the social networking company's shares, for a take of about $8.3 million.
Moskovitz has been selling 150,000 shares a day and disclosing the sales every three days. Including the most recent sales, he still holds about 132 million shares.
The latest filing was made Tuesday and covered sales since last Thursday. He sold shares at prices ranging from $17.56 to $19.42.
Moskovitz, 28, was Zuckerberg's Harvard roommate when they founded Facebook in 2004. He left in 2008 and started the software company Asana.
A regulatory filing also indicated that Zuckerberg won't sell stock in the company for at least the next 12 months.
Many of Facebook's rank-and-file employees can start selling stock they own on Oct.

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