Nvidia Director Sells Record-Breaking $411M in Stock
Nvidia director Mark Stevens recently made history by selling a record-breaking $411 million worth of stock in a three-day period. This figure surpasses the previous record by $175 million and makes it the largest insider Nvidia stock sale in history.
The massive sales took place from Monday to Wednesday, with Stevens' trust disposing of 1,848,501 NVDA shares at an average price of $222.26 per share. This totals a staggering $411 million, which is significantly higher than the previous record held by Tench Coxe, another Nvidia director who sold $235.74 million in stock across two days.
What's more concerning is that Stevens has filed his intention to sell an additional 5 million shares worth up to $1.09 billion, shattering his own earlier record. This proposed sale would be executed through Merrill Lynch and could potentially take place as early as September 2.