Facebook Stock Up as Zuckerberg Commits to Not Sell

Facebook stock shot up more than 4% in early trading on Wednesday morning, following the news that the company's CEO Mark Zuckerberg will not sell off any shares for at least the next year.

Thestock had closed below $18 for the first time on Tuesdayafter analysts with Morgan Stanley and JP Morgan, the two largest underwriters for Facebook's IPO, cut the company's price targets for the next 12 months.

Shortly after the market closed, Facebook released a filing with the Securities and Exchange Commission, in which the company noted that Zuckerberg had "no intention" to sell off any more Facebook shares for the next 12 months. The company also noted that other prominent Facebook i…
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