Nvidia's Huang Sold $323 Million of Stock in July Before Decline

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Nvidia's Huang Sold $323 Million of Stock in July Before Decline

Bloomberg08-06

Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.Combined with the shares he unloaded in...

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Joshua C
·08-06
I find it particularly curious that CEOs always find a way to be "fortunate" with their timing. I'd imagine you'd have a faily decent trading success rate with a team of experts. Examples - $NVIDIA Corp(NVDA)$ $Tesla Motors(TSLA)$ $Alphabet(GOOGL)$ As an observation, CEO and executives selling should be considered a sell signal ✍️
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Mickey082024
·08-06
Smart move in the bubble time
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PY07
·08-06
How about some new news?
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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia's Huang Sold $323 Million of Stock in July Before Decline\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-06 09:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-08-05/nvidia-s-huang-sold-323-million-of-stock-in-july-ahead-of-swoon><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.Combined with the shares he unloaded in...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-08-05/nvidia-s-huang-sold-323-million-of-stock-in-july-ahead-of-swoon\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NVDA","symbol_name":"英伟达","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2024-08-05/nvidia-s-huang-sold-323-million-of-stock-in-july-ahead-of-swoon","article_id":"1154406330","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1154406330","pubTimestamp":1722906584,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.Combined with the shares he unloaded in","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NVDA":"英伟达"},"translate_title":"Nvidia的Huang在下跌前7月份出售了价值3.23亿美元的股票","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVDA":1.1},"content_text":"Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.Combined with the shares he unloaded in June, the chipmaker’s co-founder and chief executive officer has sold almost $500 million worth since the stock hit its peak amid an AI-fueled rally.While the June and July sales were executed under a 10b5-1 trading plan adopted in March, the timing proved fortunate. 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I'd imagine you'd have a faily decent trading success rate with a team of experts. Examples - $NVIDIA Corp(NVDA)$ $Tesla Motors(TSLA)$ $Alphabet(GOOGL)$ As an observation, CEO and executives selling should be considered a sell signal ✍️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/335393787486448","repostId":1154406330,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":335371828322544,"gmtCreate":1722907866329,"gmtModify":1722908717995,"author":{"id":"4185413129326452","authorId":"4185413129326452","name":"Mickey082024","avatar":"https://community-static.tradeup.com/news/69cd88df1050e4a42389cd899f89a7ec","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"4185413129326452","authorIdStr":"4185413129326452"},"htmlText":"Smart move in the bubble time&nbsp;","listText":"Smart move in the bubble time&nbsp;","text":"Smart move in the bubble time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/335371828322544","repostId":1154406330,"repostType":4,"repost":{"id":"1154406330","pubTimestamp":1722906584,"share":"https://ttm.financial/m/news/1154406330?lang=&edition=fundamental","pubTime":"2024-08-06 09:09","market":"us","language":"en","title":"Nvidia's Huang Sold $323 Million of Stock in July Before Decline","url":"https://stock-news.laohu8.com/highlight/detail?id=1154406330","media":"Bloomberg","summary":"Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.Combined with the shares he unloaded in","content":"<html><head></head><body><p>Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.</p><p>Combined with the shares he unloaded in June, the chipmaker’s co-founder and chief executive officer has sold almost $500 million worth since the stock hit its peak amid an AI-fueled rally.</p><p>While the June and July sales were executed under a 10b5-1 trading plan adopted in March, the timing proved fortunate. Nvidia shares have tumbled 14% over last three trading days, including 6.4% on Monday as the Nasdaq 100 Index fell to its lowest level since May.</p><p>Stocks globally sold off sharply as investors dealt with a perfect storm of surprisingly weak economic data, underwhelming corporate earnings and poor seasonal trends. The S&amp;P 500 dropped 3% — its biggest one-day decline in almost two years — while a gauge of the “Magnificent Seven” megacaps like Nvidia and Apple Inc. plunged almost 10% at one point.</p><p>The downturn erased $184.9 billion from the fortunes of the world’s 500 richest people, according to the Bloomberg Billionaires Index, including $75.6 billion from tech tycoons.</p><p>Huang’s net worth fell $5.9 billion, dropping him to 16th on the wealth list with $88.4 billion after briefly having eclipsed $100 billion last month.</p><p>A spokesperson for Nvidia declined to comment.</p><p>Huang’s daily sale of 120,000 shares came during a roller coaster month for Nvidia and Huang, which saw their fortunes rise and fall in tandem. In July alone, Nvidia shares accounted for four of the eight biggest market cap wipeouts, according to data compiled by Bloomberg.</p><p>The Santa Clara, California-based chipmaker rebounded by the end of July following competitor Advanced Micro Devices Inc.’s upbeat revenue forecast, renewing investor enthusiasm for the sector. Nvidia added a record $329 billion in market value on July 31, boosting Huang’s fortunes by nearly $12 billion.</p><p>Huang, 61, wasn’t the only Nvidia insider to sell in July. Board member Mark Stevens unloaded about $125 million worth of shares, according to filings, while Jay Puri, the company’s executive vice president of worldwide field operations, sold about $10 million.</p><p>Nvidia insiders in total have cashed out shares worth more than $1 billion since the beginning of the year. Huang has personally sold about $1.4 billion in shares since the start of 2020, including this summer’s sales. He plans to continue selling into August, according to a filing.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia's Huang Sold $323 Million of Stock in July Before Decline</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia's Huang Sold $323 Million of Stock in July Before Decline\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-06 09:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-08-05/nvidia-s-huang-sold-323-million-of-stock-in-july-ahead-of-swoon><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.Combined with the shares he unloaded in...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-08-05/nvidia-s-huang-sold-323-million-of-stock-in-july-ahead-of-swoon\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.bloomberg.com/news/articles/2024-08-05/nvidia-s-huang-sold-323-million-of-stock-in-july-ahead-of-swoon","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154406330","content_text":"Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.Combined with the shares he unloaded in June, the chipmaker’s co-founder and chief executive officer has sold almost $500 million worth since the stock hit its peak amid an AI-fueled rally.While the June and July sales were executed under a 10b5-1 trading plan adopted in March, the timing proved fortunate. Nvidia shares have tumbled 14% over last three trading days, including 6.4% on Monday as the Nasdaq 100 Index fell to its lowest level since May.Stocks globally sold off sharply as investors dealt with a perfect storm of surprisingly weak economic data, underwhelming corporate earnings and poor seasonal trends. The S&P 500 dropped 3% — its biggest one-day decline in almost two years — while a gauge of the “Magnificent Seven” megacaps like Nvidia and Apple Inc. plunged almost 10% at one point.The downturn erased $184.9 billion from the fortunes of the world’s 500 richest people, according to the Bloomberg Billionaires Index, including $75.6 billion from tech tycoons.Huang’s net worth fell $5.9 billion, dropping him to 16th on the wealth list with $88.4 billion after briefly having eclipsed $100 billion last month.A spokesperson for Nvidia declined to comment.Huang’s daily sale of 120,000 shares came during a roller coaster month for Nvidia and Huang, which saw their fortunes rise and fall in tandem. In July alone, Nvidia shares accounted for four of the eight biggest market cap wipeouts, according to data compiled by Bloomberg.The Santa Clara, California-based chipmaker rebounded by the end of July following competitor Advanced Micro Devices Inc.’s upbeat revenue forecast, renewing investor enthusiasm for the sector. Nvidia added a record $329 billion in market value on July 31, boosting Huang’s fortunes by nearly $12 billion.Huang, 61, wasn’t the only Nvidia insider to sell in July. Board member Mark Stevens unloaded about $125 million worth of shares, according to filings, while Jay Puri, the company’s executive vice president of worldwide field operations, sold about $10 million.Nvidia insiders in total have cashed out shares worth more than $1 billion since the beginning of the year. Huang has personally sold about $1.4 billion in shares since the start of 2020, including this summer’s sales. He plans to continue selling into August, according to a filing.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":335371181715624,"gmtCreate":1722907572965,"gmtModify":1722907576438,"author":{"id":"3575853696180451","authorId":"3575853696180451","name":"PY07","avatar":"https://community-static.tradeup.com/news/d210b362dee2c0853a42002ab27c8017","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3575853696180451","authorIdStr":"3575853696180451"},"htmlText":"How about some new news?","listText":"How about some new news?","text":"How about some new news?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/335371181715624","repostId":1154406330,"repostType":2,"repost":{"id":"1154406330","pubTimestamp":1722906584,"share":"https://ttm.financial/m/news/1154406330?lang=&edition=fundamental","pubTime":"2024-08-06 09:09","market":"us","language":"en","title":"Nvidia's Huang Sold $323 Million of Stock in July Before Decline","url":"https://stock-news.laohu8.com/highlight/detail?id=1154406330","media":"Bloomberg","summary":"Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.Combined with the shares he unloaded in","content":"<html><head></head><body><p>Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.</p><p>Combined with the shares he unloaded in June, the chipmaker’s co-founder and chief executive officer has sold almost $500 million worth since the stock hit its peak amid an AI-fueled rally.</p><p>While the June and July sales were executed under a 10b5-1 trading plan adopted in March, the timing proved fortunate. Nvidia shares have tumbled 14% over last three trading days, including 6.4% on Monday as the Nasdaq 100 Index fell to its lowest level since May.</p><p>Stocks globally sold off sharply as investors dealt with a perfect storm of surprisingly weak economic data, underwhelming corporate earnings and poor seasonal trends. The S&amp;P 500 dropped 3% — its biggest one-day decline in almost two years — while a gauge of the “Magnificent Seven” megacaps like Nvidia and Apple Inc. plunged almost 10% at one point.</p><p>The downturn erased $184.9 billion from the fortunes of the world’s 500 richest people, according to the Bloomberg Billionaires Index, including $75.6 billion from tech tycoons.</p><p>Huang’s net worth fell $5.9 billion, dropping him to 16th on the wealth list with $88.4 billion after briefly having eclipsed $100 billion last month.</p><p>A spokesperson for Nvidia declined to comment.</p><p>Huang’s daily sale of 120,000 shares came during a roller coaster month for Nvidia and Huang, which saw their fortunes rise and fall in tandem. In July alone, Nvidia shares accounted for four of the eight biggest market cap wipeouts, according to data compiled by Bloomberg.</p><p>The Santa Clara, California-based chipmaker rebounded by the end of July following competitor Advanced Micro Devices Inc.’s upbeat revenue forecast, renewing investor enthusiasm for the sector. Nvidia added a record $329 billion in market value on July 31, boosting Huang’s fortunes by nearly $12 billion.</p><p>Huang, 61, wasn’t the only Nvidia insider to sell in July. Board member Mark Stevens unloaded about $125 million worth of shares, according to filings, while Jay Puri, the company’s executive vice president of worldwide field operations, sold about $10 million.</p><p>Nvidia insiders in total have cashed out shares worth more than $1 billion since the beginning of the year. Huang has personally sold about $1.4 billion in shares since the start of 2020, including this summer’s sales. He plans to continue selling into August, according to a filing.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia's Huang Sold $323 Million of Stock in July Before Decline</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia's Huang Sold $323 Million of Stock in July Before Decline\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-06 09:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-08-05/nvidia-s-huang-sold-323-million-of-stock-in-july-ahead-of-swoon><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.Combined with the shares he unloaded in...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-08-05/nvidia-s-huang-sold-323-million-of-stock-in-july-ahead-of-swoon\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.bloomberg.com/news/articles/2024-08-05/nvidia-s-huang-sold-323-million-of-stock-in-july-ahead-of-swoon","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154406330","content_text":"Nvidia Corp.’s Jensen Huang continued his summer of selling, offloading a record $322.7 million worth of shares in July just ahead of a wider tech stock selloff.Combined with the shares he unloaded in June, the chipmaker’s co-founder and chief executive officer has sold almost $500 million worth since the stock hit its peak amid an AI-fueled rally.While the June and July sales were executed under a 10b5-1 trading plan adopted in March, the timing proved fortunate. Nvidia shares have tumbled 14% over last three trading days, including 6.4% on Monday as the Nasdaq 100 Index fell to its lowest level since May.Stocks globally sold off sharply as investors dealt with a perfect storm of surprisingly weak economic data, underwhelming corporate earnings and poor seasonal trends. The S&P 500 dropped 3% — its biggest one-day decline in almost two years — while a gauge of the “Magnificent Seven” megacaps like Nvidia and Apple Inc. plunged almost 10% at one point.The downturn erased $184.9 billion from the fortunes of the world’s 500 richest people, according to the Bloomberg Billionaires Index, including $75.6 billion from tech tycoons.Huang’s net worth fell $5.9 billion, dropping him to 16th on the wealth list with $88.4 billion after briefly having eclipsed $100 billion last month.A spokesperson for Nvidia declined to comment.Huang’s daily sale of 120,000 shares came during a roller coaster month for Nvidia and Huang, which saw their fortunes rise and fall in tandem. In July alone, Nvidia shares accounted for four of the eight biggest market cap wipeouts, according to data compiled by Bloomberg.The Santa Clara, California-based chipmaker rebounded by the end of July following competitor Advanced Micro Devices Inc.’s upbeat revenue forecast, renewing investor enthusiasm for the sector. Nvidia added a record $329 billion in market value on July 31, boosting Huang’s fortunes by nearly $12 billion.Huang, 61, wasn’t the only Nvidia insider to sell in July. Board member Mark Stevens unloaded about $125 million worth of shares, according to filings, while Jay Puri, the company’s executive vice president of worldwide field operations, sold about $10 million.Nvidia insiders in total have cashed out shares worth more than $1 billion since the beginning of the year. Huang has personally sold about $1.4 billion in shares since the start of 2020, including this summer’s sales. He plans to continue selling into August, according to a filing.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":18,"commentSize":3,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}