Jeff Bezos, founder and now executive chairman of Amazon (NASDAQ: AMZN), sold $346 million worth of Amazon stock on August 3, 2026.
After a rapid rally that accompanied the sale and sent the price to a new all-time high, the e-commerce giant spent much of the month declining, a trend that extended into September, too.
Since Bezos’s August 3 move, Amazon shares have in fact lost approximately 14%, with the price dropping from $249 to $246 at the time of writing, September 30, 2026. Nonetheless, it remains up 18.5% on the six-month chart.
Amazon stock continues declining after last month’s record highs
Over the past month, Amazon has been the worst performing Magnificent Seven stock, its shares coming under pressure as investors weighed regulatory risks, heavy spending on artificial intelligence (AI), and the company’s near-term cash flow.
A key development came on August 31, when the Federal Trade Commission and 22 state attorneys general sued Amazon over alleged misconduct involving its advertising auctions. While Amazon disputed the allegations, arguing that its advertising practices have benefited advertisers and saved them more than $8 billion, the lawsuit did not help the declining share prices.
Similarly, while Amazon’s cloud business continues to provide a major source of growth, investors are increasingly focused on how quickly that demand can translate into profits as Amazon expands its infrastructure to meet AI-related demand.
What’s more, the company has spent about $169 billion on property and equipment over the past 12 months, with a significant portion directed toward data centers and other infrastructure supporting AI and cloud computing. Such investments have contributed to negative free cash flow, increasing investor concerns about the amount of capital Amazon is committing.
However, Amazon believes the spending will strengthen the business in the long term. For better or worse, Wall Street seems to agree, with some analysts projecting as much as 35% upside over the next year.
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