CEOs Selling Stock as Market Reaches Record Highs
CEOs like Jamie Dimon, Mark Zuckerberg, and Jeff Bezos have been selling a lot of stock recently as the market reaches record highs. Diversifying wealth out of a single stock is recommended, even for billionaires.
Key Points
- CEOs like Jamie Dimon, Mark Zuckerberg, and Jeff Bezos have sold $9.3 billion of stock in less than a month.
- Elon Musk sold $39.5 billion of Tesla shares between November 2021 and December 2022 to raise cash.
- Selling stock when it's high and rising is beneficial for CEOs.
Pros
- Diversifying wealth out of a single stock is a smart move, even for billionaires.
Cons
- Substantial share sales from CEOs can be seen as a lack of faith in the stock by the market.