Peter Thiel, Jeff Bezos and Mark Zuckerberg are leading a parade of corporate insiders who have sold hundreds of millions of dollars of their companies’ shares this quarter, in a signal that recent stock market exuberance could be peaking.
Stock sales at the beginning of a calendar year are normal, with pent up demand in early 2024 being exacerbated by shareholders avoiding sales last year because of depressed company valuations. Amazon founder Bezos sold 50 million shares worth $US8.5 billion in the ecommerce group in February. Andy Jassy, Amazon’s chief executive, sold $US21.1 million of stock this year, compared to $US23.6 million in 2023 and 2022 combined., has sold millions of dollars of the company’s shares for years. But he has increased selling this year as its stock hit all-time highs. In early February, he sold 291,000 shares for $US135 million, his first sale of that size since November 2021. He still has 13.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: 7NewsAustralia - 🏆 11. / 71 Read more »