Bezos Plans $4B Amazon Stake Sale as AMZN Rallies on Earnings

Jeff Bezos plans to sell up to 15 million Amazon shares worth about $4.07 billion under a prearranged Form 144 through Morgan Stanley Smith Barney, a small portion of the company’s 10.78 billion shares. The move comes as Amazon posted a second-quarter beat (revenue $200.61B, EPS $5.75) and issued Q3 guidance below estimates, helping AMZN climb about 20.6% since earnings. On Monday the stock closed around $284.02, up 4.6% for the day, while CNBC’s Jim Cramer called the sale a “buzzkill.”