Nvidia CEO Jensen Huang sold a record $323 million worth of shares in July before the market plunged. In total, he sold half a billion dollars worth of his company's stock over the summer. This is reported by Bussines Insider.
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Insider Sales
Jensen Huang sold a record amount of Nvidia shares from his portfolio last month, bringing his total share sales to nearly $500 million this summer, and did so ahead of the market crash on Monday, August 5 and the significant decline in the tech sector that was observed the week before.
Huang decided to sell shares back in March and made a plan. Such sell-offs affect the market, since company insiders have sold shares worth more than $1 billion this year.
Since 2020, Huang has sold $1.4 billion in company shares.
Stock Price
Nvidia shares fell 11% on Monday, but the price is now resuming.
Recall that in June, Nvidia split its shares, after which the shares became ten times cheaper, but the total capitalization did not decrease, since shareholders received an additional 10 shares for 1.
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