Shares of e-commerce giant Amazon fell during the trading session on Tuesday, August 4 as a filing revealed founder Jeff Bezos plan to sell about 15 million shares worth roughly $4.1 billion of the platform, after the stock touch record high, hitting the $3 trillion market-cap threshold.
Amazon shares dropped over 2% following the development, which indicated the planned sale under a Rule 10b5-1 adopted on November 14, 2025. The sale was conducted on Monday through Morgan Stanley, the filing said.
The share price dipped despite improving sentiment in the broader market as the S&P 500 touched a new all-time intraday high on Tuesday. The market index rose 0.5%, while the Nasdaq Composite advanced 0.9%. The Dow Jones Industrial Average was up 1.4%.
The filing comes hours after shares of the e-commerce platform touched an all-time high, continuing gains led by last week's quarterly results. The shares rallied 15% after strong results lifted a broad sweep of companies benefiting from demand for artificial intelligence. Amazon added 4.6% on Monday to close at a record, becoming only the fifth company to ever cross the $3 trillion market-cap threshold.
The e-commerce major posted strong second-quarter earnings, driven by stronger-than-expected growth in its cloud-computing business, bossting investor confidence that its artificial intelligence investments are translating into accelerating demand.
This year, Amazon shares have rallied 23%, more than double the 11% gain in the S&P 500.
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