Several prominent executives sold large quantities of company stock before a market downturn caused by President Donald Trump's tariff announcements.
Mark Zuckerberg, through his Chan Zuckerberg Initiative, sold 1.1 million Meta Platforms Inc. shares worth $733 million in January and February 2018. Meta's stock price has since fallen by 32%.
Other executives who also sold significant shares before the market decline include Safra Catz of Oracle Corp. and Jamie Dimon of JPMorgan Chase & Co.
The timing of these sales, preceding the negative market impact from the tariffs, raises questions about market timing and insider information. However, this analysis does not suggest any wrongdoing.
Insiders including Meta Platforms Inc.’s Mark Zuckerberg, Oracle Corp.’s Safra Catz and JPMorgan Chase & Co.’s Jamie Dimon cashed out shares worth billions of dollars before President Donald Trump’s tariff announcements roiled markets.
Zuckerberg sold 1.1 million shares worth $733 million in the first quarter through his Chan Zuckerberg Initiative and its related foundation, according to an analysis by the Washington Service, which tracks insider buying and selling. All of the sales were in January and February when Meta’s stock was still trading above $600, hitting a peak of more than $736 on Valentine’s Day. The social-media company’s share price has since slid by 32% amid the broader market selloff.
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