Amazon Stock Slips After Friday’s Rally, Bezos’ Stock Sales: Retail Sentiment Wavers

Amazon, Inc. ($AMZN) shares fell in premarket trading on Monday amid profit taking following Friday’s 6.19% jump. Late Friday, Amazon founder Jeff Bezos filed with the SEC regarding the sale of 16.36 million shares valued at $3.05 billion. 

Bezos, who stepped down as the e-commerce giant’s CEO in July 2021, is now involved with the company on an executive role.

The post-earnings bump in Amazon shares propelled Bezos to the second spot in the list of world’s wealthiest persons, according to the Bloomberg Billionaires’ Index. His net worth now stood at $220 billion, only behind Tesla CEO Elon Musk’s $262 billion. 

The tech entrepreneur first sold Amazon shares this year in February, which marked the first sales transaction since 2021. 

Bezos also runs the cash-intensive Blue Origin space company and he is also widely known for contributing to philanthropic causes.

Stocktwits platform users harbored mixed sentiment toward the stock, with one calling for it to go past the $200 barrier toward the $207 overhead resistance.

Another user said he expects the stock to be weak on Monday, as many who owned the stock under $180 begin to dump. “Then by the end of the week, it should set a new 52-week high,” the user said.

Some expected the stock to go down further on Bezos' sales and preferred to wait for an opportunity to get into it.

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