#tesla sells

Tesla Inc CEO Elon Musk has just sold 22 million shares of Tesla stock worth USD $3.58 billion. According to Reuters and Bloomberg, the sale was made known to the public through a filing with the United States Securities and Exchange Commission on December 14, bringing the total Tesla stocks sold by Musk just in the past year to over USD $40 billion. Reuters says that the electric-vehicle company's stocks have become one the "worst performing" in the industry this year, primarily due to investors worrying that Musk's recent takeover of social network Twitter would divert his attention from Tesla. Tesla CEO Elon Musk reportedly sold USD 4.8 billion worth of his electric car company's shares after the Twitter board announced its approval of the proposed acquisition of their company for USD 44 billion. To be specific, 5.3 million shares of Tesla were sold at an average price of USD 905.30, representing 3.1 percent of all the shares Tesla held outright, and less than 2 percent of his total holdings if stock options are included in the equation. This was followed by a tweet from Musk: "No further TSLA sales planned after today." While reasons behind the sale were not disclosed in the filings, it could be noted that Tesla's stock price fell by 12.2 percent since Monday, the largest fall since at least September 2020. Read more in our articles including "Elon Musk sells $3.58 billion worth of Tesla shares" and "Elon Musk sells $4.8 billion worth of Tesla shares ahead of Twitter purchase".