Tesla: Elon Musk is still selling billions of dollars worth of stock in his company

According to a document published on Wednesday, December 14 by the US regulator of the markets, the SEC, Elon Musk, the head of Tesla, at the beginning of the week sold approximately $ 3.6 billion in additional shares of the manufacturer of vehicles . Those 22 million titles were distributed between Monday and Wednesday, according to the announcement.

A total of $39 billion of shares in the automaker were sold

Since November 2021, the entrepreneur has sold more than $39 billion worth of automaker stock, according to the Wall Street Journal. The main part was intended for the acquisition of Twitter acquired at the end of October for 44 billion dollars, including 27 in personal contribution. This new selloff, after a nearly $4 billion selloff in November, comes as the Tesla stock crumbles irresistibly on the stock market.

ALSO READ

Twitter: users will soon be able to find out if their account has been restricted

Investors’ concern

It fell on Wednesday to the lowest level in more than two years (November 2020). A growing number of investors are concerned that Elon Musk is spending a significant amount of his time on the restructuring of Twitter to the detriment of Tesla. The marketing of millions of titles from the Texan group also helps to lower the price of the title.

ALSO READ

Twitter: Elon Musk will offer a new paid subscription

Leave a Comment