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Amazon Stock Rally Cools After Hours as Jeff Bezos Plans Sale
Benzinga • • business
Key Points:
- Jeff Bezos plans to sell 15 million Amazon shares, valued at approximately $4.07 billion, through a prearranged trading plan filed with the SEC, representing a small fraction of Amazon’s total shares outstanding.
- The shares were originally acquired by Bezos as founder stock in 1994, and he has not reported any other Amazon securities sales in the past three months, aside from a contribution of 220,200 shares to nonprofit organizations.
- CNBC host Jim Cramer described Bezos’ $4 billion stock sale as a "buzzkill," acknowledging the sale but expressing disappointment.
- Amazon recently reported strong second-quarter earnings, surpassing revenue and earnings per share expectations, though its third-quarter revenue forecast was slightly below analyst estimates.
- Amazon’s stock has performed well, rising over 20% since the earnings report, with positive growth rankings and a strong price trend across multiple time frames.
