Bezos Sells $4B Worth of Amazon Stock Amid Market Rally
Jeff Bezos is parting ways with approximately $4 billion worth of Amazon stock. A Form 144 filed with the Securities and Exchange Commission reveals that Bezos intends to sell 15 million shares of Amazon common stock, which amounts to a relatively small slice of the company's total outstanding count of over 10.78 billion.
The sale traces back to the company's founding in 1994, when Bezos acquired the shares on July 5th. The filing classifies these shares as founder stock and notes that Bezos had made no reportable sales of Amazon securities in the preceding 90 days.
This development comes after Amazon reported record quarterly revenue of $200.6 billion, up 20% year-over-year, and AWS growth of 37%, its fastest expansion in 18 quarters. The stock sale from Bezos is a rare patch of red in an otherwise green market tape, with the S&P 500 hitting fresh highs.
Despite the dip, Amazon's trend remains solid, with the stock 12.6% above its 20-day SMA and 18.2% above its 200-day SMA. The 20-day SMA sits above the 50-day, supporting a bullish structure. MACD also shows improving momentum.