Musk Just Sold Billions of Tesla Shares Nicely Timing His Sale
A recently released SEC filing revealed that Tesla CEO Elon Musk sold approximately 7.9 million TSLA shares worth $6.9 billion after the 2022 Annual Shareholders Meeting on August 4. According to Teslarati Musk’s recent Form 4 filings were split into six transactions between August 5 to August 9, 2022.
Blomberg, which first reported the story, noted that the purpose of the latest Tesla stock sales by Elon Musk wasn't immediately clear.
However, Electrek thinks "It’s not impossible that Musk has come to a settlement with Twitter and he is selling to cover more of the equity portion of the deal, but that’s pure speculation at this point."
I don't know the reason of Musk's stock sale either, but in any case he timed his sale nicely at the more recent top
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.