Mike Murphy, founder and managing partner at Rosecliff, will share his insights on the stock after trading opens on Tuesday.
Amazon founder Jeff Bezos said on Tuesday he plans to sell about $5 billion worth of stock in the company, the same day the e-commerce giant’s shares hit an all-time high.
Bezos disclosed his plans to sell 25 million shares of Amazon in a filing with the Securities and Exchange Commission on the same day that the stock hit an all-time high of $200.43.
Amazon shares hit an all-time high on Tuesday, the same day founder Jeff Bezos revealed plans to sell 25 million shares.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| Amazon | Amazon.com Inc. | 197.59 | -2.41 | -1.21% |
Amazon’s shares fell below $200 on Wednesday but are still up nearly 32% this year, outpacing the Dow Jones Industrial Average’s 4% gain.
Amazon hits $2 trillion mark, joins elite tech club
Following the planned sale, Bezos will own approximately 912 million Amazon shares, or 8.8% of the company’s outstanding shares.
Jeff Bezos attends the 10th Annual LACMA Art + Film Gala Presented by Gucci at Los Angeles County Museum of Art on November 6, 2021 in Los Angeles. (Axel/Bauer-Griffin/FilmMagic/Getty Images)
He sold about $8.5 billion worth of stock in February after the stock price rose 80% in 2023.
Jeff Bezos and Lauren Sanchez enjoy a Greek vacation
Bezos is ranked the second-richest person in the world with a net worth of $214.4 billion, according to Forbes magazine. He is also the founder of space company Blue Origin, which launched a six-person crew to the edge of space in May.
Jeff Bezos spoke about Blue Origin’s New Shepard space flight during a press conference in Van Horn, Texas on July 20, 2021. (Joe Raedl/Getty Images/Getty Images)
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Seattle-based tech giant Amazon is riding the artificial intelligence wave and reported strong first-quarter results in April. The company recently replaced Adam Selipsky as head of its cloud-computing division with Matt Gurman, an in-house executive.
Reuters contributed to this report.
