tl;dr
The recent sale of over $2 billion in Amazon shares by Executive Chair Jeff Bezos signals a significant divestment in the company. Bezos, who still retains around 976 million shares, also adopted a plan allowing him to sell as many as 50 million shares before early next year, potentially offloading ...
The recent sale of over $2 billion in Amazon shares by Executive Chair Jeff Bezos signals a significant divestment in the company. Bezos, who still retains around 976 million shares, also adopted a plan allowing him to sell as many as 50 million shares before early next year, potentially offloading an additional $8.6 billion in stock. This move, detailed in Amazon's 2023 annual report, comes after Bezos had not sold any Amazon shares since 2021, although he did purchase a single share in May 2023. Co-founder of Amazon in 1994, Bezos owned roughly 10% of the company, or about 990 million shares, prior to this week's divestment.
More about Amazon.com Inc
Amazon.com, Inc. is a major player in the retail-catalog and mail-order industry, with a market capitalization of $1.81 trillion. The stock is currently trading at $3,000, with a 52-week range of $2,050 to $3,552. The stock has a price-to-earnings ratio of 60.16 and a dividend yield of 0.0529. Amazon's market sentiment is currently bullish, with a Relative Strength Index (RSI) of 55.78, indicating a strong buying momentum. However, the stock is currently trading above its 50-day moving average of $2,046.66, which may indicate a potential overbought situation. Traders should keep an eye on support and resistance levels for potential breakout opportunities. The company's strong fundamentals and market dominance make it a valuable long-term investment, but investors should remain cautious of potential market volatility.
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