Saturday, January 22

Elon Musk gave a strong signal to Tesla investors


Musk has sold $ 16.4 billion worth of stock since early November, when he said he would sell 10% of his Tesla stake if Twitter users agreed. And they were.

It said last week that it would stop selling shares after its scheduled sales ended.

Musk laid out a pre-set plan in September for stock sales related to options that expire next year, and Tesla said in a presentation Tuesday that the program was complete.

The latest deals, reported Tuesday, included the exercise of an option on 1.6 million shares and the sale of 934,090 of those shares to pay taxes.

In all, Musk sold 15.7 million Tesla shares at the end of this year, about the 10% stake the billionaire had pledged to sell.

Tesla shares lost about a quarter of their value after Musk asked his Twitter followers in November whether he should sell 10% of his shares. They rallied last week when he said he was almost done with the sale, although the stocks are still below the closing record of $ 1,229.91 recorded last month.

Tesla shares fell 1.1% yesterday to $ 1,077.03.

By Hyunjoo Jin, from Reuters agency



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