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Andreessen Horowitz Slashes Three Quarters of it's Facebook Portfolio

 (image source: businessinsider)

According to recent regulatory filings, Facebook Inc’s (NASDAQ:FB) independent director Marc Andreessen and his investment firm Andreessen Horowitz sold about three quarters of its stake in Facebook on November 6th, 2.28 million shares at a price range of $49-$50 a share. But the investment firm still has 4.57 million shares remaining in the social media giant. The sale according to the firm was no indication of anything wrong whatsoever with Facebook, rather it was just a smart business move. The stock is currently down below 1 percent.