Amazon CEO Jeff Bezos Unloads $250 Million Worth of Amazon Stock in 5 Days

by | May 5, 2009 | Headline News

Inquiring minds want to know why CEO of Jeff Bezos has unloaded $380 Million worth of Amazon stock since February, and over $250 million in just the last 5 days as Amazon stock is rising during the market rally.

Retail stocks have been on fire over the past few months as they have seemed to defy gravity in this uncommon recession. Amazon has emerged as the clear winner as they have executed flawlessly and provided a constant and reliable string of earnings year in and year out. Remember, it was only 10 years ago that most market experts has a forecast that this online-bookseller would be out of business by the end of 2002.

But Bezos isn’t the only insider unloading shares of stock. At the recent top of Goldman Sachs stock price, Goldman unloaded $5 billion worth of their shares to pay back the government bailout money. Additionally, more insiders have been selling into this market rally, probably get the heck out of Dodge before the SHTF.

Gap Inc.’s founding family sold $45 million of shares in the largest U.S. clothing retailer this month, according to Securities and Exchange Commission filings compiled by Bloomberg. Daniel Warmenhoven, the chief executive officer at NetApp Inc., liquidated the most stock of the storage-computer maker in more than six years. Sales by the co-founders of Bed Bath & Beyond Inc. were the highest since at least 2001.

While the Standard & Poor’s 500 Index climbed 28 percent from a 12-year low on March 9, CEOs, directors and senior officers at U.S. companies sold $353 million of equities this month, or 8.3 times more than they bought, data compiled by Washington Service, a Bethesda, Maryland-based research firm, show.

Two Words: If you are still in the stock market, take Bob Chapman’s advice and GET OUT. This can only end badly!

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