Jamie Dimon (Getty Images)

Jamie Dimon unloads $31.5 million in JPMorgan stock. What do his recent transactions mean?

The JPMorgan CEO’s sales are part of a predetermined 10b5-1 trading plan.

4/15/25 9:36AM

JPMorgan CEO Jamie Dimon sold $31.5 million in company stock on Monday, per a regulatory filing, after the bank’s impressive first-quarter earnings results had propelled the stock 4% higher the previous trading day.

Let’s take stock of Dimon’s words and actions regarding JPMorgan stock:

Back in 2016, Jamie Dimon stepped into the breach to buy more than $25 million in his own stock, which helped quell angst in a market rattled by a drawn-out industrial recession in the US and fears of a hard landing in China. The timing — which marked the bottom for the overall market — along with his position leading America’s preeminent bank are the big reasons why Dimon’s transactions are even more closely watched than most insiders.

Fast-forward to February of this year, when a filing showed that Dimon planned to sell 1 million shares of the company from early November 2024 through August 2025 as part of a rule 10b5-1 plan, which effectively locks in transactions based on changes in the share price, amount sold, and timing. This removes any discretionary aspect to the activity, key for executives who are privy to loads of material nonpublic information, and is one reason why we generally shouldn’t read too much into these share sales.

But shortly thereafter, Dimon offered some support for the idea he didn’t think the stock was a great value, telling CNBC that he was “very reluctant to buy back stock at these prices.”

Just days before the company reported earnings, Dimon appeared on Fox Business in an appearance reportedly designed to relay a message to President Donald Trump about how tariffs were making a US recession a “likely outcome.”

As prices had changed, Dimon seemingly changed his mind: the bank’s first-quarter results indicated the company bought back a higher share of its own stock relative to its quarter-end market value than any period since 2021. One suspects the bank was aggressive in buying back its own shares in March, during the rout that saw shares fall nearly 20% from their peak.

Prior to Monday’s divestment, Dimon had last sold shares on February 20, and before that, on January 31. Before that, he hadn’t recorded a sale since April 19, 2024. Even after this sale of 133,639 shares, he still holds nearly 6.5 million shares in JPMorgan, worth about $1.5 billion.

Max Knoblauch7h

Nike’s China business declines for seventh straight quarter

Sportswear kingpin Nike reported results for its third quarter, which ended in February, after the bell Tuesday. The stock fell about 3% in after-hours trading.

For fiscal Q3, Nike reported:

Earnings of $0.35 per share, comfortably above the Wall Street consensus of $0.29 per share compiled by FactSet.
$11.28 billion in total revenue, roughly in line with the $11.26 billion estimate.

Nike’s sales in China — where the company earns about 15% of its revenue — fell 7% to $1.62 billion. That’s its seventh straight quarter of sales declines in the market, though this quarter’s was less than feared. The company had issued weak guidance for this quarter considering continued softness in the region.

“This quarter we took meaningful actions to improve the health and quality of our business,” said Nike CEO Elliott Hill. “The pace of progress is different across the portfolio and the areas we prioritized first continue to drive momentum.”

Nike shares are trading near decade lows this month, as tariffs continue to weigh on profits and shipping costs rise amid the war with Iran. As of Tuesday’s close, the stock was down 17% year to date.

Luke Kawa, Tasha Matsumoto

Stocks end worst quarter since 2022 with best day since May

Optimism that the end of the war may be near sent stocks surging.

Max Knoblauch9h

Oil-sensitive travel stocks pop following Iran state media reporting on potential war resolution

Travel stocks are surging on Tuesday as oil prices fall following reports from Iranian state media that President Masoud Pezeshkian said the country has “the necessary will to end this war,” but would only do so with guarantees that “prevent the recurrence of aggression.”

The war has sent oil prices and refining margins surging this month, causing airlines and cruise lines to cut profit forecasts despite reported high demand.

Following Tuesday’s update, shares of the big four US airlines (Delta Air Lines, United Airlines, American Airlines, and Southwest Airlines) all climbed, along with smaller rivals including JetBlue. US airlines have stopped fuel hedging in recent years, increasing their exposure to upward swings in oil prices.

Cruise stocks also rallied, with Carnival and Norwegian up more than 6% and Royal Caribbean up about 5%.

J. Edward Moreno12h

The FDA is expected to lift restrictions on certain peptides, the NYT reports

The Food and Drug Administration is expected to lift restrictions on certain peptides, allowing the experimental, often injectable substances to be sold by compounding pharmacies, The New York Times reported Tuesday.

The potential move was previously reported by The Wall Street Journal, and teased by Health Secretary Robert F. Kennedy Jr. on the “Joe Rogan Experience” podcast in late February.

Peptides have boomed in popularity recently, with search interest for “peptides” surpassing “ozempic” this month. Many of them are currently understudied and not approved for human use, a rule consumers are able to bypass by purchasing them from suppliers that sell them for, ostensibly, research purposes only.

As reports of the FDA changing its stance of peptides mount, consumer health companies like Hims & Hers and Superpower have been getting ready to roll out their peptide offerings as soon as they get the FDA's blessing.

The peptide gold rush: How impending deregulation could supercharge a shadow industry

Matt Phillips12h

Memory stocks bounce as Bernstein analyst calls TurboQuant fears “overdone”

Memory stocks rose Tuesday, after Bernstein analysts called the recent panic over Google’s TurboQuant AI algorithm “overdone.”

Bernstein analyst Mark Newman wrote:

“[Hard disk drive] and Memory stocks have sold off significantly due in part to fears from Google’s TurboQuant report. This however, should have zero impact on HDD demand and negligible impact on NAND demand. Given the stock sell-off we see this as an attractive entry point for Seagate Technology Holdings, Western Digital and Sandisk’s and upgrade WDC to Outperform.”

All three stocks were up early Tuesday, as was memory chip maker Micron.

Today’s rally stands in stark contrast to the pummeling these shares have endured over the last week, after Google Research published a technical paper on March 24 detailing its TurboQuant AI algorithm, which compresses the amount of data associated with AI operations without affecting the accuracy of AI models.

That was seen as a threat to surging AI demand for memory storage, which has supercharged prices for memory chips and memory-related stocks over the last year.