Tesla stock pummeled on Musk's $3.6 billion sale
Musk sold 22 million Tesla shares, or about $3.6 billion worth, between Monday and Wednesday this week. Tesla took a slide on the news, and ultimately dropped 14.5% for the week to $150.23, its lowest close since 2020.
Overall, Musk has sold nearly $40 billion in Tesla stock since an all-time high in November 2021.
Wedbush wrote in a client note, "The Twitter nightmare continues as Musk uses Tesla as his own ATM machine to keep funding the red ink at Twitter which gets worse by the day as more advertisers flee the platform with controversy increasing driven by Musk."
Overall, Musk has sold nearly $40 billion in Tesla stock since an all-time high in November 2021.
Wedbush wrote in a client note, "The Twitter nightmare continues as Musk uses Tesla as his own ATM machine to keep funding the red ink at Twitter which gets worse by the day as more advertisers flee the platform with controversy increasing driven by Musk."
Is it time to buy Tesla in the dip?
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