Elon Musk sold $6.9 billion worth of Tesla shares | Mashable.
Elon Musk sells $6.9 billion worth of Tesla shares, says he'll buy them back
 |
| You thought I was done selling Tesla stock. I was not done selling Tesla stock. Credit: angela Weiss/Getty Images |
Elon Musk once said his money will be the "last out" of Tesla, but he's selling massive amounts of Tesla stock – again.
Musk unloaded a decent chunk of his Tesla shares in April, ahead of a planned Twitter buyout. And now, according to regulatory filings published on Tuesday, he's sold an additional 7,924,107 Tesla shares, worth roughly $6.9 billion.
According to the documents, the sales took place between August 5 and August 9.
SEE ALSO: Elon Musk is backing out of Twitter deal
Musk himself confirmed the news on Twitter, and shared some reasoning behind the sale. "In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock," he tweeted.
When asked whether he would buy Tesla stock again in case the Twitter deal doesn't close, Musk answered affirmatively.
Musk's $44 billion Twitter buyout went sideways after Musk started claiming that Twitter's assessment of how many bots there are on the platform was bogus. Now, both sides are suing each other, and there's no telling whether the deal will go through or not.
While Musk's reasons for the sale do make sense, he did say in April that he doesn't plan any further sales of Tesla stock, so this news might not sit too well with investors. The trial between Musk and Twitter is scheduled to begin on October 17 in Delaware, and it might take a while to resolve, so don't count on Musk buying back those shares very soon.
Before he is ready to buy back his Tesla stock, he will tweet something to make the stock price fall. He gets away with stock manipulation
ReplyDeletehe already caused it to fall. If it crashes it’s because of the market crash not the stock itself
DeleteUnless part of his settlement with Twitter trial is that he’s Trumped from the platform permanently…
Deletedoesn't matter though, it doesn't have to be specifically a tweet. He has a big audience and plenty of power
DeletePerhaps he needs to expand the variety of automobiles. So far he has a sport sedan, a cheaper sport sedan and a taller sport sedan.
ReplyDeleteFanciest golf carts west of the Peco's !!!
Deletehe has 2 suvs too. The truck comes out next year. What else do you think he should make? A coupe?
DeleteGetting ready to buy Twitter
ReplyDeleteIt's PE is 171 !! sounds like a great buy !!
DeleteWho cares
ReplyDelete6.9 after 4.20? 🤣
ReplyDelete🤣🤣🤣🚀
DeleteI hadn't even noticed
Deletehttps://tenor.com/view/elon-musk-funny-elon-musk-okay-you-are-right-how-funny-you-are-gif-20397020
DeleteAnother pump,and dump scheme
ReplyDelete😱🐹
ReplyDelete☁️☁️ ☁️ 🌔 ☁️
ReplyDelete☁️ ☁️ 🚀
* ☁️
*
*
*
*
*
*
🚀
Ham🐹
🌎
@hamstercoin 🚀🚀🚀
ReplyDelete@_hamster_coin #hamstercoin
ReplyDeleteHamstercoin 🐹 is perfect 🐹🐹
ReplyDelete@_hamster_coin is best🐹💛💙
ReplyDeleteAt this point, making decisions based on what elonmusk says is just foolhardy
ReplyDeleteDont worry. He will buy them back
ReplyDelete#tslaq
Might need some extra liquid funds to help pay for his growing stable of children from various different women.
ReplyDeletehe has to name them up to letter Z you know.
DeleteElon Musk next stroke of genius should be offering a car that regular people can afford.
ReplyDeletethat's not how building the company and brand works, "regular" people will not pay it.
DeleteWell, this is a good move for Elon even if Twitter will not go through. If you’re into stock trading, you know what game you’re into, right?
ReplyDeleteRight he's no dummy
ReplyDeleteSo he sells a large amount that floods the market and drops the price so he can buy them back and make a profit 🤔🤷
ReplyDeleteSo he pawn them …
ReplyDeleteHe wants to avoid the emergency sale with a surprise emergency sale?
ReplyDelete