BlackRock CEO Sells $30 Million in Stocks Sounds Alarms on Wall Street – Executive Digest

Blackrock CEO Laurence Fink sold a large part of his shares in the world’s largest asset manager last Friday. This sale corresponded to a transaction worth more than 30 million dollars, that is, 7% of the total shares.

Laurence Fink sold 44,500 shares at an average price of $684.00 and raised alarms on Wall Street over concerns about US stock market conditions.

The set of movements in the shares of the largest asset manager in the world comes from some time ago. Since December, Fink has made several sales of the company’s shares, but this was the most representative since 2020. Also the President of BlackRock, Roberto Kapito, sold 37,600 BlackRock shares, worth almost 24 million dollars, at the end of the month of July.

“While there can always be many reasons to sell shares, the sale of such a large stake by the head of the world’s largest investment fund could raise concerns about BlackRock’s stock appreciation, market volatility,” XTB analysts say.

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