Oracle co-founder Larry Ellison cancelled a plan to sell up to 50 million shares worth about $7.5 billion, saying no shares were sold under the plan
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Larry Ellison has scrapped his strategy to unload up to fifty million shares of Oracle. No shares have been sold under this plan, and there are currently no further sales anticipated. Despite exceeding Wall Street forecasts in their recent quarterly results, Oracle's stock has dipped this year due to investor worries about future capital expenditures. Analysts caution that a recovery in cash flow is still a distant goal.
