Canopy Growth stock tumbles after announcing $200 million share sale plan
In a recent transaction, Jennifer Piepszak, the Chief Operating Officer of JPMorgan Chase & Co. (NYSE:JPM), sold 4,273 shares of the company’s common stock. The shares were sold at a price of $269.85 per share, amounting to a total of approximately $1.15 million.
Following this transaction, Piepszak holds 54,469 shares in the company. The sale was executed on February 20, 2025, and was reported in a filing with the Securities and Exchange Commission. With a market capitalization of approximately $747 billion and a P/E ratio of 13.5x, JPM remains a dominant player in the banking sector. InvestingPro subscribers have access to 13 additional key insights about JPM’s valuation and growth prospects through the comprehensive Pro Research Report.
In other recent news, JPMorgan Chase & Co. has announced the issuance of 300,000 shares of its 6.500% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series OO. This issuance involves depositary receipts representing 3,000,000 depositary shares, each representing a one-tenth interest in a share of the preferred stock. The offering is tied to restrictions on dividend payments and other distributions if the company fails to declare dividends on the Series OO Preferred Stock. Additionally, JPMorgan Chase & Co. has initiated a series of job cuts, impacting employees in its Houston offices, as part of a broader plan to reduce its workforce through 2025. The bank has scheduled further layoffs throughout the year, with notifications already sent to affected employees. In another development, the Federal Reserve has ended climate stress tests for major U.S. banks, including JPMorgan Chase & Co., meaning these banks will not need to submit data for the Climate Scenario Analysis Exercise this year. Meanwhile, a recent survey by JPMorgan revealed that 71% of institutional traders do not plan to engage in cryptocurrency trading this year, though there is a slight increase in those who plan to trade crypto compared to last year. Lastly, senior dealmaker Daniele Apa from JPMorgan’s natural resources team has retired after a notable career with the firm.
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