Elon Musk dumps another $3.5 billion of Tesla (TSLA) shares as stock hits 52-week low
This is the second time Musk has sold more than $3 billion of Tesla (TSLA) shares in a six week window.
Elon Musk, the man who continues to dominate the news cycle, is making headlines again as he dumps another pile of Tesla (TSLA) shares. This time, the Twitter and Tesla CEO has sold $3.5 billion worth of Tesla shares.
definitely none of this is related to the form 4 elon just filed pic.twitter.com/4321qtEKfG
— The Chancery Daily and 99 others (@chancery_daily) December 15, 2022
SEC Form 4 filings reveal that Elon Musk has sold another $3.5 billion of Tesla (TSLA) stock over a three-day period. This was reported on by Chancery_Daily on Twitter on December 14, 2022. The filings reveal the shares were sold across numerous transactions with the price-per-share falling between a range of $155.43 and $177.15 across all transactions.
Musk sold some $4 billion worth of stock at the start of November. The unit price then was between $189.57 and $219.90. Since that time, the stock prices have fallen to a 52-week low. It’s also worth noting that Musk has previously stated that he had no plans to sell additional TSLA shares after April 28. However, it’s not a leap to assume this is related to his $44 billion purchase of Twitter.
You are selling $TSLA shares to fund a $TWTR acquisition. Let that sink in, you dingbat.https://t.co/oVOv4fa16w pic.twitter.com/xehxDraCbC
— Productive Citizen ✌🏾💙🙏🏾👊🏾 (@technosucks) April 29, 2022
“Just as my money was the first in, it will be the last out,” Musk stated in tweet from 2013 in regards to Tesla. While times change, it’s illuminating to see that he’s willing to sell off Tesla stock if it ensures he can, presumably, continue to pay down his debt.
At risk of stating obvious, beware of debt in turbulent macroeconomic conditions, especially when Fed keeps raising rates
— Elon Musk (@elonmusk) December 13, 2022
While we can only infer that the continued sale of Tesla shares is in a bid to make payments on his Twitter debt, Musk has implemented measures to try and make Twitter profitable. With advertisers abandoning the platform, Musk has attempted to monetize the free app with Twitter Blue. For $8 USD a month on PC and $11 USD a month on iOS, users can get a blue checkmark as well as a few other benefits. It’s worth noting that Shackpets offers five different colored checkmarks for one $8 payment.
We’ll be sure to keep you up to date on the latest happenings with Elon Musk. This is unlikely to be the last time he does something noteworthy.
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replySam Chandler posted a new article, Elon Musk dumps another $3.5 billion of Tesla (TSLA) shares as stock hits 52-week low
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Now he can pay his rent... maybe
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I didn’t realize teslas market capitalization was that they are by far number 1 in the world with the next 3 automakers barely equaling them
https://companiesmarketcap.com/automakers/largest-automakers-by-market-cap/-
Not overvalued at all, either. /s
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Those carbon credits...
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Honestly it is pretty wild how many auto makers they passed- like Mazda and Volvo and still climbing. If anything this chart makes them seem more legitimate than I thought.
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Ferrari's stock price 0_o
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So they're over priced. So much for Musk's claim of trying to move the world over to electric vehicles with a model-T type of product.
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Trickle down... and the fact that everyone else is making EV's now (competition). Never understood the love for Musk. He's not a good engineer, CEO, or human, and Teslas aren't the greatest cars ever known.
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Market speculation because they're new and disruptive. The established automakers are boring and predictable so why invest. Eventually Tesla will be boring for investors too.
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What sucks is no matter how bad things get, he'll never be poor.
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i usually agree but I'll make an exception for him.
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Awesome. Fuck this guy.
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I mean this is the same board that gave him a $50+ billion deal to be CEO. And was sued by a shareholder because the "board failed to exercise independence from Musk" so yeah I don't expect them to do much of anything.
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that was the celebrity CEO gamble. it worked. now, elon's no longer fulfilling the role of CEO of tesla. if it keeps dropping, they will do something. tesla is not elon musk, especially now that he's incapable of running that company because he is on his bored billionaire twitter tantrum
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Maybe Ellison is too busy buying his next yacht or something important like that.
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Maybe the yacht is more important to him.
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right, he should be removed from company "employee" affiliation. I get the majority shareholder issue, but tesla's board needs to grow a pear as we say - elon's externalities are torching their company, and there are LOTS of other shareholders that can tell him to fuck right off. he can own stock but be severed from operations. tesla needs to distance themselves from him. it's time. he wants to focus on twitter, obviously, at the demise of tesla - no one there deserves that.
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fair. no idea who is on it, but LOTS of value is being destroyed because of elon's "not related to tesla" activities. if they like losing money because of his personal issues, well... that doesn't sound like those people... usually they will fire the fuck out of people that cost them millions...
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The board is filled with his allies including his own brother. It’s not likely to happen or it will take a lot more than a stock crash.
So far he’s weathered:
NHTSA investigations for fatalities and emergency vehicles accidents involving autopilot
A scandal involving coerced massages and HJs aboard his private jet
Selling millions of his options/shares for Twitter
50% stock crash
He would have to murder someone himself by hand to get removed at this point.-
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yeah I suppose so. I guess the sum of events, and now the ongoing issue of he literally doesn't fucking care should be the final alarm bell for any company elon is associated with
having thousands of folks out of jobs, countless others worried about it, destroying retirements... it's surreal they wouldn't consider removing him. but hey we live in fucking weird times where tycoons and bored billionaires do literally whatever they want -
He's weathered all this because the board (rightly) believed his cult of personality is critical to the Tesla brand and its success. His current behavior is making his personal brand value start to be more of a liability than a strength. That's a new type of risk.
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https://nitter.nl/ResearchQf/status/1603213579615981568
All that non-payment.
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