Today's Business Headlines: 10/26/23
Jamie Dimon says central banks got forecasts ‘100% dead wrong’ — and it doesn’t matter if Fed hikes rates againThis may be the ‘most dangerous time’ in ‘decades’ warns JPMorgan CEOJPMorgan Chase boss Jamie Dimon is reportedly planning to sell $141 million worth of his shares in the Wall Street behemoth — the first time he’s trimming his personal stake in JPMorgan since he took the CEO position in 2005.
Dimon “continues to believe the company’s prospects are very strong and his stake in the company will remain very significant,” JPMorgan told The Post.The planned transaction will be subject to the terms of Rule 10b5-1 of the Securities and Exchange Act of 1934, JPMorgan told The Post, which requires insiders to sell company stock by setting up a predetermined plan that specifies a transaction date and the amount of stock to be sold.
Take early 2009, for example, when Dimon bought 500,000 shares of the bank during a stock slump. He made an identical move in 2016, spending a total of about $38 million on the two transactions, according to Bloomberg.
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Jamie Dimon to sell $141 million worth of JPMorgan stock for first timeZachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder.
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Jamie Dimon to Sell JPMorgan Stock for First Time, a Very Un-Buffett Like MoveThe CEO, who has a net worth of about $2 billion, will unload about 1 million shares.
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Jamie Dimon and family selling one million shares of JPMorgan stock for 'financial diversification' purposesStock sale is worth about $140 million based on recent stock price
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JPMorgan Chase stock slips after bank says CEO Jamie Dimon is selling 1 million sharesJPMorgan Chase CEO Jamie Dimon will begin to sell 1 million shares of the bank he runs next year, the bank said.
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JPMorgan Chase shares slip after bank says CEO Jamie Dimon is selling 1 million sharesJPMorgan Chase CEO Jamie Dimon will begin to sell 1 million shares of the bank he runs next year, the bank said.
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JPMorgan Chase shares slip after bank says CEO Jamie Dimon is selling 1 million sharesJPMorgan Chase CEO Jamie Dimon will begin to sell 1 million shares of the bank he runs next year, the bank said.
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