Today we are watching…
1. Amazon (#amzn)
Over the past two weeks, Jeff Bezos has hit the sell button on his Amazon stock more than during the entire first fifteen years since founding the company. Shares were on an up surge, but the boss is the boss, and his sentiment counts for the most. The scale of recent insider selling on his part has been for 905, 456 shares worth $1.8 billion. Nobody needs that kind of money lying around, but you can’t blame the Amazon founder for cashing in when the company has a trillion-dollar valuation. Perhaps he knows something we don’t, or he’s suspicious that $2,050 is a price peak? Investors will be watching his actions like a hawk to decide their own over the next two weeks!
2. Uber Technologies (#uber)
It’s a day many thought would never come! Uber investors have been fed news from the top that a profit, we repeat, a profit, is expected by year-end. Shares jumped 4% on the Wall Street broadcast, management lifting the bonnet on its core ride-hailing business to show that positive cash flows did exist if you just made a few adjustments. “We realize that the era of growth at all costs is over,” said CEO Dara Khosrowshahi. However, transport lead at digital consultancy firm Publicis Sapient is still less than impressed. She said, “Uber’s latest attempts to shed money-losing businesses, while promising, don’t guarantee it will dig itself out of the financial grave it dug for itself.”