Musk Sells Nearly $4 Billion Tesla Stocks After Twitter Takeover -- Latest SEC Filings
$Tesla(TSLA.US$ CEO Elon Musk sold about $4 billion worth of Tesla stock in the past three trading days after closing the $44 billion deal with $Twitter (Delisted)(TWTR.US$.
According to the latest SEC filings disclosed Tuesday evening, Musk sold roughly 19.5 million shares for a total of about $3.95 billion. He sold the stocks for three trading days in a row starting last Friday at a price range from $189.58 to $219.90 a share. His ownership position of Tesla dropped from 14.7% to 14.1% after the latest sales.
The stock price of Tesla dropped in all three days and fell 11% collectively. Tesla closed below $200 at 191.3 on Tuesday, which is the first time since June 2021.
Musk had already sold $31.81 billion in Tesla stock in the past year before the most recent sales, according to the data collected by Dow Jones. Here are two reasons for the sales occurred: one reason is that Musk faced a huge tax bill last year; the other is the Twitter deal that was announced in April this year.
He tweeted that "No further TSLA sales planned after today," after a round of selling in April.
However, he continued another round of sale in August and tweeted again that he was done with selling Tesla stocks.
Tuesday's sale of shares is a turnabout for Musk in responed to the tweets in August. The market is guessing he may keep selling the stock later the week. So mooers, what do you think?
Source: SEC, Twitter, Dow Jones
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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TRIUMPHANT RETURNS : Remember it ain't DONE until papa bear Elon says it's done...could be a trick too like time even if he says he's done n pull the rug by selling another few billions...U Been P'UNKED!
CambridgeS : Great time to buy Tesla.
meruson : poor cathie
Milamber : The price crash is his own doing, each time
Aerolor : Looks like more red days ahead
Dream Weaver : Happy to see selling. its PE needs to come down Hopefully others help him along Then there is a thalidomide reason to invest. in their stocks.