A trend is developing in the stock sales of Tesla (NASDAQ: TSLA) CEO Elon Musk. Musk again last night indicated he sold shares in the company in which he helms, filing two Form 4’s with the Securities and Exchange Commission.
Much like last Monday, yesterday saw Musk sell shares directly from his personal holdings, rather than his trust, which was responsible for sales Tuesday through Friday last week. A trend is also forming, in the sense that a further 2.1 million options priced at $6.24 per share were exercised by Musk, before selling exactly 924,091 shares in the company.
This week, however, as a result of a falling stock price, Musk managed to sell his stake in the firm between a range of $980.46 and $1,031. Those ranges are significant, as they imply Musk was selling throughout the day rather than in a single chunk, with the days range being $978.60 through to $1,031.98.
In total, Musk managed to garner gross proceeds of $930,718,759.75 from the stock sales, a significant decrease over the $1.1 billion raised last Monday. Over the course of November, he has sold a total of 7.3 million shares for gross proceeds of $7.8 billion.
Tesla last traded at $1,013.39 on the Nasdaq.
Information for this briefing was found via Edgar. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.