Elon Musk sells another huge chunk of Tesla shares

Tesla CEO Elon Musk sold astir 22 cardinal much shares successful his electrical conveyance business, which were worthy astir $3.6 billion, according to a financial filing retired Wednesday night. The transactions took spot betwixt Monday and Wednesday this week according to the filings with the Securities and Exchange Commission.

Earlier this year, Musk told his millions of followers connected societal media that helium had "no further TSLA income planned" after April 28.

However, helium continued to merchantability portions of his sizable holdings successful Tesla aft agreeing to bargain Twitter successful a woody worthy astir $44 billion. The acquisition closed successful precocious October. Musk, who is besides CEO of SpaceX, a large defence contractor, instantly appointed himself CEO of the societal media company.

After Musk's Twitter takeover, helium told employees determination that helium sold Tesla shares to "save" their business.

Tesla shares person been declining this year, and sliding adjacent further since helium took connected that caller responsibility.

Shares of Tesla closed down 2.6% connected Wednesday astatine $156.80, dropping the company's marketplace capitalization to $495 billion. Tesla shares were down 55% year-to-date arsenic of Wednesday's close.

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