Amazon Stock Rally Cools After Hours as Jeff Bezos Plans Sale - Amazon.com (NASDAQ:AMZN)

Jeff Bezos plans to sell 15 million shares of Amazon valued at $4.07 billion, according to a Form 144 filing submitted to the Securities and Exchange Commission on Monday. The sale will be executed through Morgan Stanley Smith Barney LLC.

CNBC's Jim Cramer called the move a "buzzkill" as news of the planned sale circulated. The filing marks another significant divestment by the Amazon founder, who stepped down as CEO in 2021 but remains executive chairman.

The $4.07 billion sale represents one of the largest insider transactions in recent months. Bezos has previously sold billions in Amazon shares, typically for philanthropic purposes and to fund his space venture Blue Origin, though the filing does not specify the intended use of proceeds from this sale.

Amazon shares retreated in after-hours trading following the disclosure. The timing of the announcement comes as the stock had been rallying alongside broader tech strength earlier in the session.