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Mutual Funds Bail on Facebook

Fidelity sells off huge chunk of stock at record speed

By Kevin Spak,  Newser Staff

Posted Aug 2, 2012 6:41 AM CDT

(Newser) – Usually, when big mutual funds invest in IPOs, they're in for the long haul. But that might not be the case with Facebook. Twenty-one mutual funds from Fidelity Investments, one of Facebook's earliest buyers, unceremoniously dumped more than 1.9 million public shares...   Read full story »

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