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Jeff Bezos, the founder of Amazon.com Inc. (NASDAQ:AMZN), has wrapped up his recent sale of Amazon shares. Last week, Bezos sold off Amazon stock worth $1.3 billion, taking his total sales for November to a whopping $3.4 billion.
What Happened: Bezos has offloaded a total of $5.1 billion worth of Amazon stock since July. These sales were carried out under a prearranged trading plan known as 10b5-1, a common practice among large shareholders.
Barron’s reports that this plan, which was announced in May, replaced a previous one and was designed for Bezos to sell 25 million Amazon shares by the end of 2025.
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Bezos has completed his sales ahead of schedule. His last trade under the plan was conducted on Wednesday, where he sold 39,538 shares for approximately $8 million.
This transaction took his total share sales since July to the planned 25 million, marking the end of the current plan.
While Amazon has chosen not to comment on the stock sales, investors are eagerly awaiting the announcement of a new plan, possibly in Amazon’s next quarterly report.
Despite the massive sales, Bezos still holds over a billion Amazon shares, valued at $213 billion.
Why It Matters: Bezos’ massive sell-off of Amazon shares, totaling $5.1 billion since July, has been a topic of interest among investors.
The sales were conducted under a prearranged 10b5-1 trading plan, which is commonly used by large shareholders to avoid accusations of insider trading.
The completion of this plan ahead of schedule has sparked anticipation for the announcement of a new plan, potentially to be revealed in Amazon’s upcoming quarterly report.
Despite the large-scale sales, Bezos remains a major shareholder in Amazon, with over a billion shares valued at $213 billion.
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