Elon Musk Sells Another Big Chunk of Tesla Stock

If shareholders of the company were worried that Mr. Musk was too focused on his new job at the micro-blogging site, they now have more reason to be angry.

Mr. Musk pledged in April to stop selling shares in order to finance his deal with the micro-messaging service.

He said on Tuesday that he was up to something and warned against debt in turbulent macroeconomic conditions. It is possible that he will either buy back some of the debt or buy back some of the company's stock.

This will not be enough to calm shareholders who are worried about the 61 percent drop in the company's stock price from its peak in late 2021. On Wednesday, one of the biggest individual investors in the company said, "Tesla needs and deserves to have working full time C.E.O."

There was a time when the company had a market value of over $1 trillion and its stock price was on a tear. The stock has been lagging the broader market this year, as well as more established automakers that are competing more aggressively withTesla in the fast growing electric vehicle business. At a time when Mr. Musk is distracted, some investors and analysts are concerned that the competitive challenges he is facing will come at a time when he is sellingTesla shares.

In the morning, the stock was up about 1 percent.

Dan Ives, a stock analyst at Wedbush, wrote in a note to clients on Thursday that the nightmare continues as Musk usesTesla as his own A.T.M. machine. Some investors are worried that Mr. Musk's statements on social media could hurt the company's brand and cause people to stop buying electric cars.

Some corporate boards will intervene if a chief executive appears to be distracted or overly focused on other ventures, but they have been criticized for doing nothing to admonish or restrain him.

Mr. Musk has been suspending accounts at the micro-blogging site. Jack Sweeney, a college student, drew on public data to track Musk's private plane.

After initially promising not to suspend the account, Mr. Musk changed his mind. The accounts were suspended because of a change in the rules that appeared in the last 24 hours.

According to a new survey, some chief executives are still wary of what Mr. Musk is doing. Attendees at the Yale C.E.O. Summit were asked to weigh in on top business topics. They came down on some of them.

• A majority of respondents said their own companies had not stopped advertising on the social networking site.

• 69 percent of people believed that the best days of the company were behind it.