Amazon Stock Update: Jeff Bezos Sells $8.5 Billion in Shares

Jeff Bezos, the former CEO of Amazon.com, has made headlines once again for selling a significant amount of Amazon shares. In the past few trading days, Bezos has sold $2.4 billion worth of shares, adding to the $8.5 billion he has already sold this month.

According to reports, Bezos sold about 14 million shares of Amazon stock at prices ranging from $166.41 to $170.89 between Thursday and Tuesday. This brings the total number of shares he has sold since the start of the month to roughly 50 million, as part of a trading plan adopted earlier this month.

Despite stepping down as Amazon’s chief executive in 2021, Bezos remains the company’s largest shareholder, holding over 938 million shares. Late Tuesday, Amazon was announced to replace Walgreens Boots Alliance on the Dow Jones Industrial Average, further solidifying its position in the market.

Amazon’s stock has been performing well, with a 0.5% increase to $167.82 in recent trading. The stock gained 81% last year and has seen a strong start in 2024, up 11%. Bezos’ recent selling of shares has not seemed to have a negative impact on the stock’s performance, indicating confidence in Amazon’s future prospects.

Investors and analysts will be keeping a close eye on Amazon’s stock as it continues to make moves in the market, especially with Bezos’ ongoing selling of shares. Stay tuned to see how Amazon will continue to evolve and grow in the coming months.

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