Bezos Selling Out and Bank of America Shows up Zeros 📉

Bezos Selling Out and Bank of America Shows up Zeros

Jeff Bezos just offloaded $3 billion worth of his Amazon stock. Maybe he’ll have to wait three days for it to settle before being able to pay rent with it, or reinvest it into something else!

The sale was pre-arranged and part of a 10-b5-1 trading plan, according to filings, so investors had some pre-warning and therefore this didn’t put a dent in Amazon’s stock price. However, the reasons for Bezo’s selling were never disclosed. He might know something we don’t. He might think we’re at a market top, or perhaps he just wants more cash to fund Blue Origin!

Jeff Bezos is still the richest person in the world. It’s safe to say his bank account looked much healthier than those of Bank of America clients yesterday, who were on the receiving end of display issue that made their balances appear as $0!

It’s unclear how many customers were affected and how many have walked out disgruntled, but Bank of America is one of Warren Buffett’s biggest stakes. It will need to invest more heavily in cybersecurity if it’s to rebuild trust.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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