Even insiders dislike FacebookJuly 12, 2013: 3:35 PM ET
Facebook attracts plenty of users, but the stock continues to have trouble with shareholders. Even its top executives are selling shares.
The most prominent of the recent insider sellers is Facebook (FB) COO Sheryl Sandberg, who sold almost 170,000 shares, according to a Securities and Exchange Commission filing Thursday. She also sold almost 7,000 shares from her family trust.
While Sandberg and the other top dogs at Facebook still own plenty of the company's shares, the selling activity gave traders on StockTwits plenty to chat about. Shares of the social media company were down slightly Friday, but are down 30% from the May IPO.
Insider buying and selling is fairly common in the corporate world, but that's a fair point. Given that Facebook shares have traded below their IPO price since hitting the market and trail the broader market's performance by a good amount, why wouldn't company executives buy up shares to encourage a little faith among investors?
At least one trader thinks Facebook doesn't have much staying power as a social media platform.
But another countered, arguing that Facebook has a strong competitive edge -- except perhaps against Google (GOOG).
OK, there's a bit of sarcasm there, probably because Google Plus hasn't exactly been a roaring success.