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Jeff Bezos sells two billion dollars of Amazon shares. Have we reached the peak?

Amazon founder Jeff Bezos

Amazon founder Jeff Bezos sold about 12 million shares of the online retail and cloud services company worth about $2 billion, the company said on Friday, shortly after laying out a plan to sale of its shares over the next year. The news is reported by NYPost.

The sale occurred Wednesday and Thursday, records show.

Last week, Amazon said Bezos would sell up to 50 million shares of the company.

The sales plan, subject to certain conditions, was adopted on November 8, 2023 and will be completed by January 31, 2025, according to the company's latest annual report.

Bezos, who left as the company's CEO to take over as executive chairman in 2021, founded Amazon as a book retailer in 1994 and has followed it all these years. Due to his divorce in 2019, a substantial part of the Amazon shares passed to his wife.

Share sales occur at a time when the company's stock value is at its highest.

Profits are also at some of the best levels in recent quarters

So Bezos, cleverly, wants to take advantage of the positive situation and secure profits which, evidently, are not certain to be repeated in the near future. This could also be a signal for other shareholders to pay close attention to a stock that is likely at its highest.

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The article Jeff Bezos sells two billion dollars in Amazon shares. Have we reached the peak? comes from Economic Scenarios .

This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/jeff-bezos-vende-due-miliardi-di-dollari-di-azioni-amazon-siamo-giunti-ai-massimi/ on Mon, 12 Feb 2024 07:00:27 +0000.