Musk disclosed the sale of close to $4 billion worth of stock in the electric car company.
The stock has been down since the beginning of the year. It was the 465th worst performing stock in the S&P 500.
The latest batches of shares were sold in order to finance Musk's acquisition of the social networking site. As votes from the U.S. mid-term elections were being counted, his sales were revealed.
The latest stock sales by Musk were very well- timed according to an analysis by Ben Silverman. Company executives are tracked by the author.
3, the day before his first sale, and closed at $191.30 the next day. The shares declined over the three days. The stock dropped as the day went on.
As of the end of March, Musk had 268.6 million shares ofTesla pledged as security for his personal debt. After the latest sale of about 19.5 million shares, he held about 19.7% of the company's outstanding shares, a decline from 22.4% at the end of 2020.
Musk holds exercisable options for 177.3 million more shares of the company and has some smaller options.
In April, Musk sold $8.5 billion worth ofTesla shares at a price of $294.36 per share. Musk sold almost $7 billion worth of shares in the company.
InsiderScore said that it was hard to ignore the expert timing of his previous sales. Following Musk's lead may be a good idea.
Musk has enlisted the help of many of his employees to help him with his work. He doesn't know how he or these employees will divide their time.
Musk is selling more of his shares on social media.
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