Elon Musk sold almost $4 billion of Tesla shares following his $44 billion takeover of Twitter, after saying he wasn’t planning more sales of the EV maker’s stock
Tesla stock fell Wednesday after filings showed Chief Executive Elon Musk had sold stock in the electric-vehicle maker worth almost $4 billion in recent days.
Tweet on Tesla’ s stock dive
— The_Journalbiz (@the_journalbiz) November 9, 2022
Bloomberg chart on Tesla’s plunge
There are growing concerns that Twitter is turning into more of a distraction for Musk than most anticipated ‘prior to the deal closing.”
Mr. Musk sold 19.5 million shares in Tesla Nov. 4-8, according to regulatory disclosures made public Tuesday. The sales came after he bought Twitter for $44 billion.
Tesla shares were recently down nearly 4% as broader markets retreated.