Longtime investors who hold Nvidia (NVDA) and Amazon (AMZN) may understandably dismiss the CEO and co-founder, respectively, selling shares. The recent sales are a negligible percentage of total holdings.
In the last month, CEO Jensen Huang sold NVDA stock regularly. On July 9, he sold another 240,000 shares for $30.7 million. The sales, completed on July 5 and July 8, are a small fraction of his 79 million ownership.
Investors cannot gauge the impact these sales will have on the stock price. Huang may have sold a small amount on expectations that the stock will rise further.
Traders may worry. The insider sale signals a potential risk for a correction. Nvidia’s Blackwell is more powerful and less power-hungry than the H100. AMD (AMD) and Intel (INTC) have products that compete only with the H100. Once it sells Blackwell, Nvidia could continue
rising. It needs to report revenue growth that exceeds the most optimistic Wall Street Analyst.
Executive Chairman and co-founder Jeff Bezos sold nearly $865 million in Amazon stock on July 8. He already sold a massive 4.93 billion dollars worth (25 million shares) on July 3. He plans to sell up to 50 million shares before early 2025.
These sales are notable. Technology CEOs sold heavily during the Y2K bubble. Between 2000-2022, the Nasdaq (QQQ) lost over 80% of its value.
Related Stories
