In a surprising turn of events, seven corporate executives are offloading their shares at an unprecedented pace, reminiscent of the sell-off trend witnessed in 2021.
Jamie Dimon, the head of JPMorgan, parted with $150 million worth of $JPM shares on February 22, marking a notable move in the financial sector. Meanwhile, Mark Zuckerberg shed $661 million of Meta ($META) shares between January 31 and February 21, and Jeff Bezos, the Amazon magnate, liquidated a whopping $8.5 billion of Amazon ($AMZN) shares from February 9 to February 20. The figures are staggering, with a jaw-dropping $9.3 billion in stock sold by three individuals in less than a month. Some analysts see this as signaling a potential blow-off top.
Magnificent 7 Corporate Executives are dumping shares are the fastest rate since 2021 🚨 pic.twitter.com/IYmsvhZfFq
— Barchart (@Barchart) March 4, 2024
In less than a month, 3 individuals have sold $9.3 billion of stock.
Jamie Dimon sold $150 million of JPMorgan, $JPM, on Feb. 22.
Zuckerberg sold $661 million of Meta, $META, between Jan. 31 and Feb. 21.
Bezos sold $8.5 billion of Amazon, $AMZN, between Feb. 9 and Feb. 20.
— unusual_whales (@unusual_whales) March 3, 2024
Average market performance during recessionary bear markets pic.twitter.com/AtxpXutGul
— Win Smart, CFA (@WinfieldSmart) March 3, 2024
If stocks do get a correction at some point, here is a nice graphic displaying the average recovery time depending on the severity of the decline pic.twitter.com/X5gOCxmFrM
— Barchart (@Barchart) March 4, 2024