Jeff Bezos, Amazon Chief sold about $200-M of Amazon.com NASDAQ:AMZN stock
Jeff Bezos, Amazon Chief sold about $200-M of Amazon.com NASDAQ:AMZN stock
Jeff Bezos, Founder, Chairman and CEO of Amazon.com Inc. is taking extra cash out of the company, and be advised that more and more high dollar stock sale transactions will take place before the year end to capture the low 15% capital gain tax rate before taxes rise in Y 2013.
The sale was a planned share sale under one of the existing 10b5-1 Plan filings, but expect to see more and more of these sales in here.
Between 29/30 November 2012 Mr. Bezos sold some 790,102 shares at a volume weighted average of 250.02 per share, the result: $197,543,988 for Mr. Bezos, This transaction des not even represent 1% of his holdings. The filings show that Bezos still has more than 87.1-M shares of Amazon.com stock.
If Bezos were able to sell his entire Amazon.com stake today, his pre-tax sale would come in at rough $21.77-B.
Get ready for more insider share sales. With the F-Cliff looking like a reality there is 1 other consideration. If insiders wait to sell after the end of December, they are taking more risk than just taxes. They could be selling shares into a recession as tax hikes meet spending cuts.
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Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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