Elon Musk (Facebook photo / Elon Musk, unsplash)
Tesla shares have not known such drop data for more than a year and a half, but this week it happened against the backdrop of the sale of shares made by Musk to pay taxes. In total, the richest man in the world sold shares worth $ 5.7 billion, and currently owns 167 shares of the company. But the company’s stock is experiencing an unusual drop this week and losing more than 15%, and its market value is starting to approach below the trillion celebrated a month ago and a share price now stands at 1,033.42.
According to documents released by the US Securities and Exchange Commission (SEC), hundreds of shares in the electric vehicle maker have been sold by Musk and its mutual fund in recent days. Musk himself sold 930,000 shares worth a total of 1.1 billion on Monday. But this was not related to a poll he conducted on Twitter over the weekend on the sale of 10% of the shares he owns, but was planned in advance about two months ago. Were not pre-planned, according to the listing.
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The reason for the sale of the shares is probably an attempt to please the tax authority in the Biden administration. Musk himself hinted on Twitter that the only reason he sells Tesla shares is to pay tax on it and close the roll on allegations that he only earns shares, not a salary, as the company’s CEO is evading tax on the huge capital he owns. By the way, the shares sold Do not come close to 10% of the holdings of Musk, which still holds about 166 million shares, but closer to 2.7%.
Although in recent days Tesla shares have been declining due to these announcements by Musk, precisely after the news of the sale was published, it rose in the hours after trading by 2.66%, or $ 28.5 per share, to a price of about $ 1,096 per share. This is after during trading hours on the NASDAQ yesterday it jumped by 4.34%, or $ 44.45, to a price of $ 1,067.95, stabilizing the company’s value at $ 1.07 trillion.
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