NVIDIA’s stock has surged by 156% in 2024, with CEO Jensen Huang selling shares worth $94.6 million. He sold 720,000 shares, leaving him with 80.7 million shares. This follows a trend among chip CEOs, with Micron Technology’s CEO also selling shares. Qualcomm’s CEO sold 40,500 shares, and Coherent’s CEO intends to retire after selling 15,000 shares. It’s a practice among executives to eliminate any appearance of bias by using planned transactions. These transactions happen when preset conditions are met, such as price and volume.
Micron’s CEO has sold 457,280 shares for $52 million, an average price of $113.65 each. Qualcomm’s CEO sold 40,500 shares for $6.9 million, while Coherent’s former CEO sold 15,000 shares for $846,700. There seems to be a pattern of planned transactions used by CEOs to acquire shares through options.
Overall, the tech industry has seen a rise in stock sales by top executives, possibly to secure a stronger financial position for themselves. This trend has sparked interest among investors and analysts, highlighting the significance of insider transactions in shaping the direction of the market.
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