Elon Musk offloaded more Tesla shares
for $884 million as the stock slid, bringing
his selling spree to $14 billion
Business Insider,
by
Shalini Nagarajan
Original Article
Posted By: Imright,
12/17/2021 12:52:38 PM
Elon Musk offloaded more Tesla shares on Thursday worth $884.1 million, bringing sales by the electric-vehicle maker's CEO to a total of nearly $14 billion since early November.In his second round of sales this week, the billionaire disposed of 934,091 Tesla shares, regulatory filings showed. That's the same amount Musk sold on Monday, pulling in $906 million — about $22 million more than the haul four days later.Tesla's stock has tumbled in recent weeks, and on Thursday, it slid alongside high-growth tech stocks, as investors weighed the Federal Reserve speeding up cutbacks in stimulus and its potential three interest-rate hikes in 2022.
Reply 1 - Posted by:
MickTurn 12/17/2021 1:10:25 PM (No. 1010205)
Hey Tesla Car owners...your cars value is going down like the battery charge...Enjoy!
4 people like this.
Reply 2 - Posted by:
bad-hair 12/17/2021 1:24:20 PM (No. 1010221)
By the end of winter "green" stuff is going to be in the tank. Elon's got his SpacEx out, government money, and he can let Tesla go. Let VW and Toyota eat the battery problem. Take the money and run.
3 people like this.
Reply 3 - Posted by:
formerNYer 12/17/2021 1:31:07 PM (No. 1010222)
Many Tesla owners are the worst drivers on the road - weave in and out and much faster than the speed limit - I guess they think they're special.
6 people like this.
Reply 4 - Posted by:
kono 12/17/2021 1:41:04 PM (No. 1010229)
Hm, in November he warned that Space-X would probably go broke. And one year ago he warned that Tesla was tenuous. It's not as if he's hyping up the price before dumping his shares.
4 people like this.
Reply 5 - Posted by:
Birddog 12/17/2021 2:03:15 PM (No. 1010242)
Not really him selling "Stock", his Tesla package included "Options" that he had to exercise by certain dates, if I recall correctly one was Dec 22 of this year. He was being bashed for not having to pay "Income Tax" on his holdings that never actually generated "Income", so he said "Fine, I'll take a twitter poll, and if people say Cash In? I'll cash in...and pay the taxes". Twitter poll said "Do it!" so he is doing it...at a state/federal combined tax rate of nearly 58%.
The Govt is taking OVER half of all of his new Income.
He can afford to make the Point that their wasteful spending STEALS from the Innovators, Job Creators and Workers of this Country.
"Should the Govt take HALF of what ANYONE earns??"
99% of The People will say NO!
(across all age groups, income levels, races, education levels, the near constant consensus over decades of polling is...The People think Govt shouldn't take more than about 25% max...15% is the largest plurality amount supported)
5 people like this.
Reply 6 - Posted by:
Lawsy0 12/17/2021 2:07:21 PM (No. 1010246)
How nice! (southern meaning)
2 people like this.
Reply 7 - Posted by:
Birddog 12/17/2021 2:07:22 PM (No. 1010247)
Originally he said he never intended to sell ANY stock, it would be a lifetime holding.
2 people like this.
Reply 8 - Posted by:
LC Chihuahua 12/17/2021 2:23:50 PM (No. 1010254)
Wonder if he is selling Tesla stock to fund his SpaceX ventures.
Know somebody that recently purchased a Tesla. It was expensive. They had a charging station installed at their house. The car recharges in 45 minutes. They also have a Camaro. Can you guess which car has more horsepower? It's the Tesla. The Tesla also handles better.
Musk, Tesla, and SpaceX all bear watching. Didn't Musk recently move his business from California to Texas? Wasn't he the guy that referred to Senator Warren as Senator Karen?
6 people like this.
Reply 9 - Posted by:
Californian 12/17/2021 3:01:28 PM (No. 1010266)
Why the Tesla car hate? It's a car. I have a model 3. It's a great commute car and I've taken it from SF to
OC and back with no issues. The build quality is no better or worse than anything else I've owned. Musk is definitely not the wokie woke idiot you see running so many other companies. This is the same guy having it out with trash like Joy Reid of The View and Senator Pocahontas. What more could you ask for from an American based company that moved its HQ to Texas from California because California is run by stupid people?
And for those that want to think owning a Tesla makes me wokie woke, I also own a gas guzzling 2 seater sports car with more HP than anyone has ever legally used on a public street so stuff it before you jump to conclusions.
Tesla hate makes no sense. We need more Musks here, not less.
5 people like this.
Reply 10 - Posted by:
DVC 12/17/2021 3:09:02 PM (No. 1010271)
Tesla has been getting a lot of subsidies, and even then has a very narrow market, basically a rich folks commuter vehicle. Traveling cross country is a stunt, not a normal thing anyone would do.
And something like $7-10K subsidy per buyer at the sale, besides subsidies to the company.
Companies that exist on subsidies are companies that do not have a product that people actually want to buy at the price it costs to make. IMO, the market for electric cars is very shallow, maybe 55 or 10% of people at most would want them. Most of the folks who get them now are "saving the planet" showoffs or dingbat eco freaks. Not many just ordinary people (I'm sure that they exist) really want one.
1 person likes this.
Reply 11 - Posted by:
bad-hair 12/17/2021 3:30:01 PM (No. 1010286)
Sorry #10. Driving cross country is not a "stunt". My wife and I, both retired take plenty of cross country trips in our Tundra. Houston - DC, Houston Memphis Nashville New Orleans, Houston St Louis same day. Beats flying. Stuff your Tesla or variation thereof.
3 people like this.
Reply 12 - Posted by:
czechlist 12/17/2021 4:41:09 PM (No. 1010334)
I couldn't care less what people spend their own hard earned money on. What waters me off is the government (spending taxmoney) and self rightious do-gooders (especially naive indoctrinated children) telling me what I should buy and limiting my access to choices based on some belief in unproven scientIfic modelling.
What I embrace is known as freedom
4 people like this.
Reply 13 - Posted by:
DVC 12/17/2021 11:41:30 PM (No. 1010513)
Read more carefully, #11.
Driving a Tesla cross country is a stunt. I , and millions of others, drive normal gas or diesel vehicles cross country regularly, obviously.
Not electrics, though.
0 people like this.
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