Musk sells millions of Tesla shares again and lowers company price – Stock Exchange

Elon Musk has returned to exercising “stock options” on Tesla shares.

According to the documents of the US Securities and Exchange Commission (SEC), reported by the US CNBC channel, the South African businessman sold, on Thursday, 934,000 shares of Tesla, worth $963.2 million.

Seen as a “stock options” operation, the Tesla CEO later bought 2.17 million shares of the automaker.

On Twitter, Elon Musk joked about the situation, writing: “I’m thinking about quitting my job, maybe I’ll become an influencer.”

This operation prompted Tesla to follow the negative trend observed in the “premarket”, where the value of each share is currently down 1.17% to $992.31.

With this decline, the company’s market capitalization again drops below the $1 billion level. This is the second time this week that the brand has left the Trillion Dollar Kids Club.

Tesla wasn’t immune from starting an investigation by the U.S. Securities Exchange Commission (SEC) into the fire risks — in homes and institutions — linked to defects in the company’s solar panel systems, and said, even for brief moments, the “outside base” of a group of companies that are increasing their market value. about a billion dollars.

Twitter decides, it decides

Since last month, when Musk’s Twitter followers voted for the entrepreneur to sell 10% of Tesla’s equity capital, Musk has given up $12 billion worth of stock.

Earlier this month, the Tesla CEO had already sold another $973 million (€867.82 million at the current exchange rate) in the automaker’s stock.

In the last week of November, the CEO of the auto giant sold about 8.2 million shares of Tesla for about $8.8 billion, after his Twitter followers voted to sell the South African businessman’s 10% stake in the Tesla capital.

In early November, Musk asked his Twitter followers if he should sell 10% of his stake. The answer was “yes” (nearly 58% of 3.5 million voted in favor of the sale) and then the automaker’s CEO sold the stock on Monday, November 8. On that day, the publicly listed company ended up losing nearly 5%.