Jeff Bezos Sold Nearly $3 Billion Worth Of Stock In Last Week
Jeff Bezos is famous for his visionary decisions, and something like that happened last week. Jeff sold nearly $3 billion worth of his stocks a previous week, which is creating lots of buzz on Wall Street. The report shows Jeff sold his stocks worth $2.8 billion from July 29 to August 2 2019. Nearly 1.5 million shares which were owned by Jeff sold during these five days of trading or in other words, 200,000 to 320,000 shares per day. Now this decision of Jeff has made investors worried because of which Amazon’s shares fell by 6% over the last week.
Again from the start, Amazon’s shares were not performing well because of Trump’s decision of announcing China as a currency manipulator. However, this is not the first time something like this happened with Amazon. In 2008 Jeff sold more than 1.85 million shares during a single day and netted about $135 million. However, now, the situation is quite different because now, Amazon has become a large company. Still, this selling of shares is just a small fraction of the total number of Amazon’s shares.
This transaction has brought lots of cash to Jeff than the previous one because of the high volume and high priced stocks. Many speculations are going on the wall street behind this strategy of Jeff. Some think Jeff might be selling his shares to finance his space business. Jeff is hugely interested in his space company, Blue Origin. In his previous interviews, he mentioned about using amazon as a financing tool to run Blue Origin. Jeff recently talked about sending moon lander and creating an ultra space colony. Now to achieve that he is undoubtedly going to need a high amount of investment and selling of these stocks might bring that for him.