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Loeb Says He Sold Facebook, Laments ‘Very Disappointing Quarter’

Dan Loeb
Dan LoebPhotographer: David Paul Morris/Bloomberg

Facebook Inc. just lost the support of one of the most famous hedge fund managers.

Dan Loeb, who runs Third Point LLC, said the firm has sold its Facebook stake, which amounted to 4 million shares at the end of March, according to data compiled by Bloomberg.