So why now? Why $150 MILLION now? Is Dimon selling perfectly at the top? That remains to be seen, but what we know for sure is he perfectly bought at the bottom: In other words, I'm following this guy! Here are more details, from the NY Post: JPMorgan Chase chief Jamie Dimon cashed in about $150 million of his stock in the bank - the first time the head of the largest US lender has sold shares since taking charge in 2005.
Dimon, one of the longest-serving chief executives on Wall Street, unloaded 821,778 shares of JPMorgan, according to an SEC filing Thursday.
A spokesperson for JPMorgan confirmed to The Post that "This was the planned sale of less than 10% of his holdings that we announced last October." Jamie Dimon in a suit gesturing as he speaks during a Senate hearing on Wall Street firms.
US heading to 1970s-style stagflation, JPMorgan Chase strategists warn Chase sued over 'unconscionable and predatory' junk fees for depositing checks that bounce JPMorgan shares were up over 1%, to $183.07, in early trading Friday and the firm has a market capitalization of $527.3 billion - the largest of any US bank.
Year-to-date, JPMorgan has already seen its share price rise more than 6%. Year-to-date, JPMorgan has already seen its share price rise more than 6%. Under Dimon's nearly two-decade reign, JPMorgan's shares have increased some 250%. Year-to-date, JPMorgan has already seen its share price rise more than 6%. Under Dimon's nearly two-decade reign, JPMorgan's shares have increased some 250%. Even after the selloff, Dimon and his family still own about 7.6 million shares in JPMorgan, which has more than $2.5 trillion under management, per the bank's website.
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 in October after announcing his planned stock sale.
Dimon's transactions involving JPMorgan shares are subject to the terms of Rule 10b5-1 of the Securities and Exchange Act of 1934, the bank 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.
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