Reported about 1 year ago
After e-commerce giant Amazon's stock price hit an all-time high, founder Jeff Bezos plans to sell 25 million shares of Amazon stock, potentially cashing out nearly $5 billion. Amazon's stock price closed at $200.43 on the 2nd, the highest since its IPO in 1997. Investors are optimistic about AI prospects driving growth in Amazon's cloud business, with the stock up over 30% this year, outperforming the market significantly. Despite a 1.2% drop on the 3rd to $197.59, Bezos announced selling the shares, using the latest 10b5-1 plan that allows him to sell the shares by the end of December 2025.
Source: YAHOO