Today, Jeff Bezos (CEO of Amazon for those of you living under a rock) sold over $1B worth of AMZN shares as the stock reached its all time high. Following Amazon's earnings the stock grew 8%, again making Bezos the richest person in the world. Bezos still currently owns about 16% of Amazon according to CNN Money. Read more http://fortune.com/2017/11/05/jeff-bezos-sells-Am…
* Does this indicate the Bezos believes AMZN is overvalued?
- Do you think AMZN is overvalued? 283 PE seems a bit high...
283 PE is overvalued but he could need funds for his other ventures.
Having said that, Bezos is rich.
Need some tax money and cash to pay living expenses.
It was $1B not $1M, and that only represented ~1% of his total shares and less than a quarter of a percent of his total Amazon ownership. There is also this:
"One possible destination for the cash Bezos just freed up is his commercial space company, Blue Origin. Earlier this year, Bezos told reporters at a space symposium that he sells about $1 billion per year worth of Amazon stock to fund the company, according to Reuters."
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