Tesla CEO Elon Musk sold nearly 22 million TSLA shares from Monday through Wednesday this week. The Tesla shares are worth around $3.58 billion, according to a Form 4 filing recently made public.
Although it has not been confirmed, Musk’s recent TSLA stock sales might be related to his Twitter acquisition. Musk and the employees at Twitter 2.0 have been working hard to improve the social media platform.
The Tesla CEO last sold TSLA stock for Twitter last month. Musk explained then that he sold nearly $4 billion worth of TSLA shares to save Twitter. Musk has sold almost $40 billion worth of Tesla stocks over the past year. Despite this, Refinitiv data indicates that Musk still owns 13.4% of Tesla.
As of this writing, TSLA stock is down with a price of $156.80 per share. Some Tesla bulls have had trouble maintaining their confidence in TSLA since Elon Musk bought Twitter. Besides having to sell Tesla shares for his Twitter deal, Musk’s changes to the social media platform have sown doubt in some TSLA supporters.
The Tesla brand holds one of the highest intimacy scores among automakers worldwide. Elon Musk’s interaction with the Tesla community and TSLA investors have greatly contributed to the intimacy customers have with the company’s brand.
As Musk’s decisions with Twitter dive deeper into controversial topics, Tesla is also affected. Earlier this week, Musk affirmed his confidence in the EV automaker stating: “Tesla will be great long-term.”
Below is a screenshot of Elon Musk’s Form 4 filing.
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