Zuckerberg kicks off Meta stock 'sell sell sell' every day starting Nov. 1 2023

Regulatory filings reveal that $Meta Platforms(META.US)$ founder Mark Zuckerberg has been selling off his Meta holdings every trading day from November 1st of last year until the end of December. Over the two-month period, he sold close to 1.28 million shares, cashing in approximately $428 million. The largest sell-off occurred on December 28th, where he disposed of shares worth $17.1 million.

While Zuckerberg has regularly sold Meta stock over the past decade since its IPO, 2022 was an exception. Amid a disastrous financial report and a 64% annual plunge in Meta's stock price due to the broader U.S. market downturn, Zuckerberg refrained from selling any shares.

Meta experienced a robust rebound in the preceding year, surging nearly 200%, benefiting from both the overall market recovery and its impressive financial reports. The latest financials at the end of October showed Meta achieving its largest quarterly revenue since going public in 2012, driven by increased advertising demand and ongoing cost-cutting measures alongside the development of new AI technologies.

According to a company spokesperson, Zuckerberg's stock sales are primarily aimed at supporting charitable activities.