Larry Ellison cancels plan to sell $7.5 billion in Oracle stock

Larry Ellison abandoned plans to sell $7.5 billion worth of Oracle stock on Saturday, just a day after disclosing a trading strategy to offload up to 50 million shares, valued at approximately $7.5 billion. No shares were sold before his decision to back off. Oracle confirmed in a statement that no Oracle stock was sold under this plan, and that Ellison has no further intentions to sell any of his Oracle shares. The company did not offer any explanation for the cancellation.