Tesla CEO Elon Musk says he will not sell any more of the electric carmaker’s stock for about 2 years
Tesla CEO Elon Musk said on Thursday he will not sell any more of the electric carmaker’s stock for about two years.
While speaking in a Twitter Spaces audio chat, Musk said he foresees the economy will be in a “serious recession” in 2023 and demand for big-ticket items will be lower.
His comments came after a Tesla stock sell-off deepened on Thursday over worries about softening demand for electric cars and Musk’s distraction with Twitter and his stock sales.
“I won’t sell stock until I don’t know probably two years from now. Definitely not next year under any circumstances and probably not the year thereafter,” Musk said.
On Thursday, Tesla stocks plunged 9 per cent, after Tesla started to offer deep, US$7,500 discounts to US consumers, fuelling investor concerns about softening demand as the economy slows.
His comments came after a Tesla stock sell-off deepened on Thursday over worries about softening demand for electric cars and Musk’s distraction with Twitter and his stock sales.
“I won’t sell stock until I don’t know probably two years from now. Definitely not next year under any circumstances and probably not the year thereafter,” Musk said.
On Thursday, Tesla stocks plunged 9 per cent, after Tesla started to offer deep, US$7,500 discounts to US consumers, fuelling investor concerns about softening demand as the economy slows.
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Bobi2206 : Expect some relief rally tmr