Elon Musk Unloads Further $4.5 Billion In Tesla Shares
As we had deduced yesterday following Twitter commentary from Tesla Inc (NASDAQ: TSLA) CEO Elon Musk, Musk has sold further shares of Tesla. The CEO this morning filed a total of three Form 4’s with the US Securities and Exchange Commission.
The revelation follows the news yesterday that Musk had unloaded $3.99 billion worth of shares over the course of April 26 and April 27, following his bid to acquire Twitter (NYSE: TWTR). The CEO unloaded a total of 4.4 million shares over the two day period, while price action in the name had suggested additional selling may have occurred yesterday as well.
Turns out that theory was in fact true, with three separate Form 4’s indicating Musk sold 5.23 million shares of the automaker just yesterday. The sales, which occurred via 76 transactions, brought in gross proceeds of $4,528,088,779 for the executive.
Musk last night commented “no further TSLA sales planned after today.”
Collectively, Musk has sold 9,645,000 shares for gross proceeds of $8.5 billion this week.
Tesla Inc last traded at $898.95 on the Nasdaq.
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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.
