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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (103942)	5/24/2000 4:15:00 PM
From: H James Morris	Read Replies (2) \| Respond to of 164684

Glenn, while you were buying...your buddy Bezos was selling. >Washington, May 24 (Bloomberg) -- Jeffrey Bezos filed to sell 380,000 shares of Amazon.com Inc., marking the first time that the online retailer's chief executive has cut his company stake since 1998. The sales will provide funding for investments and other commitments that Bezos makes from time to time, according to Patty Smith, a spokeswoman for Amazon.com. Smith noted that the stock reported in the sale represents less than 1 percent of the 117.5 million shares that Bezos held at Feb. 29. Bezos recently purchased the top floor of an apartment building on New York's Central Park West for about $7.5 million, according to a person familiar with the situation. Smith declined comment on whether Bezos would use funds from the stock sale to pay for the real estate. This isn't a good time to be selling Amazon.com stock, given that the shares have fallen more than 37 percent in 2000. In trading earlier today the stock fell to 40 7/16, its lowest price since December 1998. The shares rebounded in late trading to 48 3/8, up 1 11/16. The CEO listed the date of sale as May 12 in a Form 144 filed with the Securities and Exchange Commission. Based on a closing price of 53 3/4 for May 12, the sale would have raised about $20.4 million. Amazon.com, based in Seattle, is the largest online retailer in the U.S., offering consumers merchandise ranging from books and music to tools and toys. The company reported on April 26 that its first quarter loss widened to $308.4 million on spending to build up the Amazon.com Web site. In the past, Amazon.com has restricted insider sales to a 30-day window that begins several days after the company releases earnings. The last sale reported by Bezos took place on Nov. 2, 1998, according to SEC data compiled by the Washington Service. Bezos sold the equivalent of 1.08 million shares at split-adjusted prices of $21.15 to $21.65 each. May/24/2000 15:33 ET