Jeff Bezos to sell Amazon shares worth about $5 bln after stock hits record high

- Jeff Bezos, founder of Amazon ($AMZN), plans to sell $5 billion worth of shares in the company - Bloomberg is still bullish on Amazon stock, but has concerns about the market absorbing the shares - Bezos' plan to sell shares comes after Amazon stock hit a record high - China's weather authority warns of high summer temperatures - Remains of missing Australian child found after suspected crocodile attack - Antarctica New Zealand proposes smaller redevelopment of base - Pro Palestine protesters scale roof of Australia's Parliament - China's BYD opens EV factory in Thailand, first in Southeast Asia - Nissan, Honda consider partnering on software, charging infrastructure - Asia stocks hit 27-month top, dollar slips on rate cut talk - Dollar on the defensive after soft data, little relief for yen - Canada posts third straight monthly trade deficit in May - TSX climbs to four-week high as metal mining shares jump - World shares rise, US dollar weakens on soft labor market data - Hurricane Beryl strikes Jamaica as Caymans, Mexico brace for storm's impact - India's solar output grows at slowest pace in six years in first half of 2024 - Fourth of July scorcher set for a quarter of the United States - US judge partially blocks FTC ban on worker noncompete agreements - Banned former Raptor to plead guilty in gambling case, court records show - US judge blocks Biden rule adding gender identity protections to healthcare - Northwestern law school sued for discrimination against white men in faculty hiring - Wegovy, Ozempic linked with sight-threatening eye disorder in study

🚨 Reddit sentiment: mixed/positive - Most comments indicate that selling shares is a normal activity for large shareholders and won’t significantly impact Amazon’s stock. Some also discuss Bezos’s potential ventures positively. Summarized comments: - Bezos is likely selling shares to fund his expensive lifestyle and investments, such as houses, boats, and rockets. - He previously sold more shares this year, and it’s not unusual for large shareholders to sell periodically for liquidity. - $5 billion represents only 2.6% of his holdings and 0.2% of Amazon’s market cap; thus, it's a small fraction in the broader scope. - Commenters believe this sale won't significantly impact Amazon's stock price or daily trading volume. - Some speculate that he may use the cash for potential purchases, like the Celtics or the Seattle Seahawks. - It’s common for major shareholders to sell shares as part of managing their cash flow since they don’t typically earn a salary. Stock tickers discussed: $AMZN