Almost $4 billion. This is the amount of shares in the car manufacturer Tesla that Elon Musk has just sold between Friday November 4 and Tuesday November 8, when he must finance the takeover, a little over a week ago, of Twitter for 44 billions of dollars.
This sale of 4 billion represents approximately 19 million shares, or nearly 4% of the total number of shares held by the billionaire and 0.6% of the total number of shares in the company.
Even if investors did not really appreciate the maneuver, the title lost nearly 2%. In three sessions the action fell from 222.50 dollars at the opening on Friday to 191.30 dollars at the close on Tuesday, a drop of 14%.
Year on year, the stock has tumbled nearly 43%
On Twitter, several small Tesla holders were worried about these repeated sales of securities and their consequences on the share price, but also about the excessive attention paid by Elon Musk to Twitter to the detriment of the automotive group. Although this is not the only cause of price erosion. Over one year, the action has tumbled by almost 43%.
This is not the first operation of its kind carried out by the boss of Tesla in view of his takeover of Twitter since Elon Musk has already sold $ 15.5 billion in shares.
These securities sales should allow it to partly finance the takeover of the internet platform, which was done in cash to the tune of 27 billion dollars, while a good part of the balance is financed by loans backed by Twitter which will ensure the financial burden and reimbursement.