Tonesla-chef Elon Musk Sold the shares of the electric car manufacturer last week for a total value of 6.9 billion U.S. dollars. According to data from the US Securities and Exchange Commission, Musk sold 1.2 million Tesla shares on Friday alone. The whole week is 6.36 million. Within a week, the stock price fell 15%.
Musk, considered the richest man in the world, is the largest shareholder of the group. On November 6, he announced the sale of 10% of his shares through Twitter and linked it to Twitter’s vote on the issue. Seeing this condition, he started selling last week. According to Reuters calculations, Musk needs about 10 million newspapers to fulfill his promise.
Analysts suspect that Musk has instructed his bank to sell the note as gently as possible. “Given the high price, he is seizing the opportunity,” said Frank Schwope of NordLB. The sale of the stock also indicates that Musk’s stock price may have been too high. “Maybe Musk is also worried about the high market value or the value of his stock because competition with Rivian, Lucid, NIO, Xpeng and other companies is increasing significantly,” Schwope said. According to media reports, it is said that Musk’s younger brother Kimbal also sold a large number of shares.
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Tesla’s prices have risen sharply this year, especially in October. After the price increase, the market value of the automaker’s stock rose to more than one trillion U.S. dollars. In the past week, the market value subsequently fell by approximately US$187 billion. She and the course have been added for 11 consecutive weeks. Compared with the beginning of the year, the price increase still exceeds 46%.So that is Tesla Still the most valuable car manufacturer in the world. At the close on Friday, the price just exceeded $1,033.
