Investing

Elon Musk Sells Almost $4 Billion of Tesla Stock 

Now that his $44 billion purchase of Twitter is complete, Tesla (US:TSLA) CEO Elon Musk has sold more Tesla stock. The latest round of selling was noted on Nov. 8th.

According to various Form 4 filings, it shows that Musk sold 19,500,000 shares of Tesla stock and raised almost $3.95 billion in the process. Further, he made the sales over a four-day stretch, from Nov. 4th and Nov. 8th.

Interestingly, Tesla stock made new 52-week lows in the most recent session, (on Nov. 8th). Since closing the Twitter deal on Friday Oct. 28th, Tesla stock has fallen in five of the last seven trading sessions — with one of the “up” days being a gain of just 0.12% — and has shed more than 16% since the deal closed.

Musk’s sales continue a string of selling we’ve seen this year. In fact, he has unloaded more than $19 billion worth of Tesla stock in 2022.

So far, we have not seen Musk take to Twitter to discuss the sales (as he has in the past) or provide any additional detail. Although, that doesn’t rule out that he will do so later tonight or in the days ahead.

Investors will want to know if he has more shares to sell or if the latest sales are the last of what Musk plans to do.

As of the most recent closing price on Nov. 8th, Tesla stock is down 42.5% since Musk and Twitter agreed to the buyout on April 25th. Further, shares are down 49.9% since April 4th, when it was disclosed that Musk took a 9.2% stake in Twitter.

This article originally appeared on Fintel

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