LMT - Will Jeff Bezos Buy America's Most Venerable Space Company?
2024-03-04 08:06:00 ET
Call it the great cash out. Over just nine days in February, as Bloomberg reported on Feb. 20, Amazon.com (NASDAQ: AMZN) founder Jeff Bezos unloaded a total of 50 million shares of Amazon stock, netting $8.5 billion in proceeds -- nearly $1 billion per day of selling. Now inquiring minds want to know: What is Bezos planning to do with all the cash?
One possible answer: He's going to buy himself another space company.
For the better part of a year now, rumors have swirled around the fate of United Launch Alliance, the rocket-launching joint venture formed by Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) in 2005 -- and until SpaceX entered the national security launch market in 2016, America's primary means of delivering government satellites to orbit.
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Will Jeff Bezos Buy America's Most Venerable Space Company?