Tesla Stock: Musk sold $4 billion of Tesla in stock and said it won't sell again

 

According to the latest SEC filings, Tesla CEO Musk sold a total of 4.4 million shares of Tesla stock worth about $4 billion through a series of transactions over a two-day period on April 26 and April 27. Musk responded on Twitter on Thursday night to the round of Tesla stock sales, saying: “After today, there are no plans to sell Tesla stock again.

Aftermarket hours on Thursday, Tesla shares fell nearly 3 percent. the documents also show that musk’s sale of most of Tesla’s shares was done on Tuesday, and tesla shares plunged 12% on Tuesday.

Before the latest round of sell-off, musk held a combined 21% stake in tesla. tesla’s market capitalization has fallen below $900 billion, and musk’s personal wealth has shrunk by tens of billions.

Musk has previously said he will provide about $21 billion in funding for the acquisition of Twitter, and the market expects him to need to sell some tesla shares to raise funds for this.

Musk also secured $25.5 billion in debt and margin loan financing, including a $12.5 billion Tesla stock pledge loan, which is roughly equivalent to a pledge of about 61 million tesla stock.

according to the latest data from the Bloomberg rich list on April 29, musk’s personal wealth is $252 billion. even after selling tesla stock, musk is still the richest man in the world.

Tesla investors are worried that Musk’s selling of Tesla shares will affect the stock price, and on the other hand, they are also worried that Musk’s acquisition of Twitter will distract his investment in Tesla.

Since Musk announced the acquisition of social media Twitter, Tesla shares have fallen by more than 13% in the past five trading days, and the stock price has fallen nearly 20% in the past month.

According to regulatory documents released Tuesday, musk could terminate the deal by paying Twitter a $1 billion “breakup fee” if musk fails to secure enough funding to complete the deal to acquire the social media business.