Amazon shares retreat after Jeff Bezos files to sell $4 billion in stock following a 20% two-day surge on strong earnings.
Amazon shares fell Tuesday after Executive Chairman Jeff Bezos filed to sell $4 billion in stock under a prescheduled trading plan. The move follows a 20% rally over two sessions, driven by stronger-than-expected second-quarter results that pushed the stock to a record $287.20.
Prior to the filing, Amazon had climbed 15% on Friday and over 5% Monday, outpacing broader market gains. The $4 billion sale represents one of Bezos’ largest planned disposals in recent years, though such transactions are routine for executives.
Markets showed mixed reactions, with the Dow Jones index rising on separate geopolitical developments, while Amazon’s decline weighed on tech sentiment.