Business & Investment

Tesla returns to the $ 1 trillion club as Musk says the sale of shares is almost complete

Tesla Inc. is again worth $ 1 trillion after CEO Elon Musk has said it has finished selling its shares.

+ 7.49%

On Wednesday, the share price rose 7.5% to $ 1,008.87, with the share price above $ 1,000 and the market capitalization (value of all shares) of the electric vehicle company above $ 1 trillion.rear First break through the plateau in October, Tesla was lower than that mark on December 13th. Introducing volatility stocks to the “Bear Market” for the third time this year.. According to Dow Jones market data, stock prices will remain in the bare market until they are 20% higher than their recent lows. That means the stock price is $ 1,079.93.

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Stock profits continued Mask’s announcement in an interview on Tuesday is that he has finished selling his shares... Musk promised to sell 10% of its approximately 17 million shares at the time. According to a filing with the Securities and Exchange Commission, Musk sold about 13.5 million shares for about $ 14 billion.

“I sold about 10% plus enough stock to get the option exercise, and I tried very literally here,” Musk said on the satirical website The Babylon Bee. I said in an interview.

Update: Musk later tweeted that his share sale was “almost complete” and the SEC filing was disclosed. Another nearly $ 1 billion sale late Wednesday..

There may be more SEC filings detailing the sale of shares that have not yet been publicly posted. Musk is also exercising an option when selling shares and may actually leave more shares than when he promised to sell them after asking his followers on Twitter Inc.

Possibility — The latest filing at the time of the US market closure on Wednesday showed that Musk holds a stake in 174.7 million Tesla.

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Beyond Musk’s remarks, there wasn’t much positive news for Tesla on Wednesday. National Highway Traffic Safety Administration (NHTSA), Publicly declared that they are investigating the company It will reportedly install a video game on the car’s touchscreen that drivers can play while actively driving the car, adding to the other two aggressive surveys. Tesla’s “Autopilot” When “Fully automatic driving” Features.

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Tesla is one of six US listed companies with a market capitalization of over $ 1 trillion and is the parent company of Google, the parent of five major technology companies with far higher revenue and profits combined. I am participating in.
+ 2.05%

+ 1.89%
, Inc.
+ 0.36%
+ 1.53%
Microsoft Corp.
+ 1.81%

And Facebook’s parent company Meta Platforms Inc.
Everything except Meta is currently worth over $ 1 trillion, while Apple and Microsoft are over $ 2 trillion.

As the S & P 500 Index, Tesla shares have increased 42% so far this year
+ 1.02%

It has increased by 23.8%.

Tesla returns to the $ 1 trillion club as Musk says the sale of shares is almost complete Tesla returns to the $ 1 trillion club as Musk says the sale of shares is almost complete

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