Former Chief Technology officer and co-founder of Facebook, Dustin Moskovitz cashed out on Friday 450,000 Facebook shares making him $8.7 million. Moskovitz's sale occurred right after a fellow Facebook insider, Peter Thiel sold 20.1 million shares.
Moskovitz was with Facebook since its inception in 2004 until 2008 where he left to start his own company Asana, a social network company for businesses. Even with this sale, Moskovitz, former Harvard roommate to Facebook CEO Mark Zuckerberg, owns a huge stake of Facebook with over 130 million shares.
Why do you think Facebook insiders are dumping so many shares? What happened to the "buy low, sell high" philosophy?