Business & Investment

Elon Musk unloads another $ 1 billion in Tesla stock

Elon Musk sold another $ 1 billion worth of Tesla’s stake on Tuesday. He has approached his goal of selling 10% of the stake in an electric car maker.

according to Filing Together with the Securities and Exchange Commission on Tuesday, Musk sold about 934,000 shares, worth about $ 1.02 billion.He exercised again option With 1.55 million shares.

This brings his total to about 15.8 million shares since posting a Twitter poll asking if 10% of Tesla’s shares should be sold on November 7. Overall, stock sales are worth over $ 16 billion. He also exercised about 21.6 million stock options and effectively increased his stake in the company.

At the time of his Twitter poll, Musk’s 10% stake was about 17 million. last week, Musk tweeted He was “almost done” and “only a few tranches left”.

Last week’s comment stopped the month-long decline in Tesla’s share price since the sale of Tesla began. Regained market capitalization of over $ 1 trillion..

Tesla stock
TSLA,
-0.50%

It has decreased by 5% in the past month, but has increased by 21% in the last 5 days. Compared to the S & P 500, the market share has increased by 54% to date.
SPX,
-0.10%

This year it will increase by 27%.

Elon Musk unloads another $ 1 billion in Tesla stock

http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7822-34E715685CAC%7D&siteid=rss&rss=1 Elon Musk unloads another $ 1 billion in Tesla stock

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