🌋 Corporate Execs Exiting on a High Note
posted 24 Mar 2024
Tech giants are seizing the opportunity to offload shares of their own companies as the market trends upward. The insider selling-to-buying ratio has reached its highest point since the beginning of 2021.
Leading the charge this quarter was Jeff Bezos, who offloaded $8.5 billion in Amazon shares in February.
Palantir co-founder Peter Thiel made his largest sale since February 2021, divesting $175 million worth of shares.
Mark Zuckerberg has sold 291,000 Meta shares for $135 million, marking his first sale of such volume since November 2021.
Some analysts speculate that this sell-off may indicate the impending end of the bull market, driven by the buzz around artificial intelligence technologies.
If they think that we’re at the top and so they’re getting out, that’s a rather stark signal to everyone else,said Charles Elson, chair of corporate governance at the University of Delaware.
None of the tech magnates have addressed the uptick in insider sales.
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