The new owner of Twitter, Elon Musk, who just found himself short of liquidity after this mega-transaction (44 billion dollars), sold in recent days for nearly 4 billion dollars of his shares in the car manufacturer. You’re here.
Documents filed with the Securities and Exchange Commission reveal that Musk thus sold, between November 4 and November 8, more than 19 million shares for nearly 3.95 billion dollars.
Tesla’s stock is down 52% year-to-date and the company’s market capitalization has fallen below $600 billion for the first time since June last year.
This latest sale of Tesla shares has sparked fears from investors, who fear that Musk will focus on Twitter and withdraw from the electric vehicle production company.
Tesla also faces growing competition from several automakers, including GM and Ford, while dealing with slowing demand.