Why Oracle founder Larry Ellison changed his mind on a $7.5 billion stock sale in a day

​Larry Ellison has decided to cancel a trading plan a day after disclosing it. This plan would have allowed the Oracle co-founder to sell up to 50 million shares of the software company. Oracle has now confirmed that Ellison has sold no shares under the arrangement, which was due to remain in place until October 24. The timing has drawn attention because European market-abuse rules would not have allowed an executive to trade during the 30 days before financial results.In a press release, the company wrote, “Larry Ellison, Executive Chair of the Board and Chief Technology Officer, has cancelled his 10b5-1 Plan to sell Oracle stock.