- $4 CEO $4 sold more than 500,000 shares on Thursday and Friday, raising $990 million.
- The shares were in addition to the $1.8 billion worth of stock he sold earlier in the week.
- It's unclear why he's selling.
- But the moves come amid growing scrutiny of Amazon and follow a disappointing earnings report.
- $4.
Jeff Bezos' selling spree didn't stop at $1.8 billion.
By the end of last week, he'd dumped nearly a $1 billion more of his Amazon stock.
On Thursday and Friday of last week, Bezos, the CEO of the e-commerce giant, sold 531,852 shares, or about 1% of his total stake, for $990 million, according to documents he filed with the Securities and Exchange Commission. He also donated another 268 shares - worth nearly $500,000 - to an unnamed non-profit organization.
The end-of-the-week moves capped off a big week of sales for Amazon's founder. Over the first three days of last week - the last three days of July - $4. In total, he sold about 2.5% of his shares.
Read more: Jeff Bezos just sold $1.8 billion worth of Amazon shares - here's our best guess at why>$4
It's unclear why Bezos is selling stock. Amazon spokesman Dan Perlet declined to comment on the sales.
Investors often consider sales by a CEO or other top executive at at company to be a bad sign, potentially an indication that the insiders are anticipating their company's performance to deteriorate or not meet the market's expectations. Amazon's second-quarter profit $4, and company executives warned its third quarter report could similarly disappoint, amid rising costs.
Amazon is also under scrutiny for its business practices amid a wide-ranging $4 by federal officials and a $4. And the US Defense Department last week $4 in awarding a $10 billion cloud-computing contract that Amazon was widely expected to win.
Even with the stock sales, Bezos remains Amazon's biggest stakeholder. He now owns 57.6 million shares, or about 11% of the company.
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