Jeff Bezos just sold a huge amount of stock in the market
It is a habit of Jeff Bezos to sell some of the stock he has in the market so that he can provide funding for his Blue Origin space project or any other project that is being researched in Amazon or any product.
In 2020, Amazon had dumped around 3 Billion$ AMZN stock and also did not have told the investors the reason why he had sold these shares.
Billionaires in the world also do this thing where they invest any extra money they have in any other company which needs financial support or a newly started company.
Bezos usually sells stock of Amazon, but this has happened for the first time where he has sold around 3 Billion$ of shares and is keeping full silence and not even telling his shareholders the reason to sell off so many stocks as he wants it to be a complete secret until he himself reveals it.
Some sources say that Jeff Bezos had launched its Blue Origin space program which had taken flight till the atmosphere of Earth and had come back before it had officially exited the atmosphere of Earth as this was only the 13th test run made so that they can bring changes in their model which would carry humans in it.
Bezos is trying so hard every year so that he can sell many products as much as possible so that one day he can complete the research and trial on his Blue Origin space program and be authorized by NASA to take a small tour among the outer atmosphere of the Earth with the space rocket and also a small crew inside it.
In this field, Amazon is going head-on with Tesla and is racing with them to check whoever can make first the rocket which can fly around the outer atmosphere off the Earth and that company will be given authority by NASA to test run with their crew and will take ideas of new models from that company.
Even if Tesla wins the race, there is no loss of Amazon as Tesla has its focus shifted on making a beautiful space program to work with NASA while Amazon by using its great online services and product delivery can beat almost every company and become the most elite company in the whole world.
Analysts have told that even with a huge dump in stock Jeff Bezos is still the man who has earned 191 Billion$ and his income is about to increase by 76 Billion$ if Amazon has a great sales pitch. You can also know its balance sheet at https://www.webull.com/balance-sheet/nasdaq-amzn.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.