Tesla (NASDAQ: TSLA) CEO Elon Musk is about 30% through his sale of the automaker’s stock. A new filing with the SEC on Friday morning confirmed Musk sold another $683.7 million of Tesla shares, bringing the grand total thus far to 5.2 million unloaded shares for the Tesla CEO this week.
Musk started selling Tesla shares on Monday, November 8th, according to filings with the SEC that were published on Wednesday. Musk sold 934,091 shares in the documents, but also exercised options on 2,154,572 shares at $6.24.
Musk’s selling spree of Tesla stock continued through the night, with more filings released on Wednesday. Now, new filings released earlier this morning have revealed an additional sale of $687.3 million, bringing the grand total of shares sold to 5.2 million, or $5.8 billion thus far.
Musk stated last weekend that he would be willing to sell 10% of his Tesla shares to cover capital gains taxes pending the results of a 24-hour Twitter poll. The poll resulted in over 3.5 responses, concluding Musk should sell his shares, with 57.9% of respondents indicating “Yes” to Musk’s inquiry.
I will abide by the results of this poll, whichever way it goes
— Elon Musk (@elonmusk) November 6, 2021
In total, Musk will offload around 17 million shares of Tesla stock, meaning his 5.2 million already-sold shares accounts for around 30.5% of what will be sold when Musk completes the entire sale.
The two active trading days following Musk’s announcement on Saturday erased 15% of Tesla’s valuation, with massive downswings that were expected due to his sale of the stock. Tesla shares rebounded on Wednesday, closing 4.5% higher than they opened that morning. However, the decrease has continued today, as the release of the new SEC filings could be the reason for another nearly 11% fall this morning. Tesla shares were trading at $1,022.68 at the time of writing. For the week, Tesla stock is down 10.9%, although the company’s trillion-dollar valuation remains valid as the market cap for the electric automaker remains at $1.01 trillion.
Tesla shares are up over 40.6% for the year, or around $300.
Disclosure: Joey Klender is a TSLA Shareholder.
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Tesla stock (NASDAQ: TSLA) surged over 7 percent on Wednesday, canceling out some of the losses it has felt this week.
It has been a less-than-ideal start for Tesla in 2025, as the company has wiped out all of its gains felt from the victorious election campaign of President Donald Trump. The stock is down 34 percent so far this year.
The losses have mostly been felt due to reports of decreased demand due to pushback against CEO Elon Musk and his support of President Trump, as well as investor concern over the CEO’s personal use of time between the Department of Government Efficiency (DOGE) and Tesla itself.
In a note this week from Wedbush, analyst Dan Ives wrote:
“Musk needs to step up as Tesla CEO at this critical juncture. In a nutshell, the word ‘balance’ has been missing with Elon Musk and his ability to run Tesla as CEO….while instead focusing all of his energy and time driving his DOGE initiative within the Trump Administration. Since Trump’s White House 2nd term kicked off in January, we have seen Musk and Trump connected at the hip with Musk essentially living at the White House and Mar-a-Lago in Palm Beach. There has been little to no sign of Musk at any Tesla factory or manufacturing facility the last two months and perception has become reality for Tesla shares. Trump getting elected President was a huge moment for Musk and Tesla in our view as this will create the fast track for an autonomous federal roadmap…however the DOGE efforts have now intertwined Tesla into this brewing political firestorm.”
Wednesday’s slight bump for Tesla shares is likely related to the support the company received from President Trump yesterday, who purchased a Model S sedan at the White House and pledged to pay for it with a check.
President Donald Trump buys a Tesla at the White House – Here’s which model he chose
The move was one that signaled a buying spree from high-profile Republicans, including Sean Hannity, among others, who announced their support for Musk and Tesla:
As promised yesterday, I Just ordered my new self driving Tesla! Over 1000HP, 0-60 in 2.0 seconds!
Details on how to win the Tesla of your Choice soon on https://t.co/9hkyEX1UVi! pic.twitter.com/PSCCtUsXK2
— Sean Hannity 🇺🇸 (@seanhannity) March 11, 2025
Tesla shares closed at $248.09 on Wednesday, up 7.59%.
Tesla bull ARK Invest loaded up on over $20 million worth of the automaker’s shares on Monday after the company saw its largest slide on the market since late 2020.
Shares dropped over 15 percent on Monday, mostly due to pushback on the stock as CEO Elon Musk heads the Department of Government Efficiency (DOGE). His involvement with the U.S. government directly has sent some investors into a predicament over Musk’s dedication to Tesla.
There are also concerns regarding Q1 deliveries, which will be a big indication of where the year could be headed for Tesla.
The Monday slide was the biggest since late 2020 when shares dropped over 21 percent.
However, the slide presents a massive buying opportunity for investors, especially those who operate ETFs, like ARK. Long term, ARK believes Tesla shares (NASDAQ: TSLA) will be exponentially more expensive, especially leaning on the thesis that Robotaxi and AI/Optimus will translate to major growth in yet another sector for the company.
ARK bolstered its position on $TSLA in its ARKK Innovation ETF with a purchase of 68,164 shares. Tesla is the largest holding in ARKK with over $531 million in value. Tesla makes up exactly 10 percent of the ARKK ETF.
It also bought another 11,154 shares in its ARKQ Autonomous Technology & Robotics ETF.
It’s no secret Tesla shares have taken a substantial hit in 2025, especially as the company’s price on Wall Street exploded following President Trump’s successful election campaign last year.
So far in 2025, Tesla shares are down over 38 percent. They are up nearly 5 percent as of 2:30 p.m. on the East Coast. Even bullish analysts are hoping some focus returns to Tesla on Musk’s part.
Dan Ives of Wedbush said in a note last night following the broad sell off:
“This is a gut check moment for the Tesla bulls (including ourselves) after this massive sell-off in Tesla shares with fears mounting/accelerating. The bears own the Tesla narrative in the near-term as lackluster sales numbers from Europe, China, and the US in January/February along with Musk protests/brand worries have created many concerns.”
He continued:
“While the DOGE/Trump Musk iron clad partnership has created major brand worries for Tesla…..we estimate less than 5% of Tesla sales globally are at risk from these issues despite the global draconian narrative for Musk. Importantly, we expect Musk will better balance his time between DOGE and Tesla/SpaceX over the course of 2025 and some of these distraction issues will fade.”
A recent 13-F filing from legendary investor and billionaire Ray Dalio’s Bridgewater Associates has revealed that the hedge fund has added over $62 million worth of Tesla stock (NASDAQ:TSLA) to its portfolio.
Elon Musk has praised the billionaire’s investment in a post on X.
Bridgewater’s TSLA stake:
- As per Bridgewater’s 13-F filing, it currently holds 153,589 shares of TSLA, which costs $62,025,382.
- The firm added the TSLA shares in the fourth quarter.
- Tesla shares gained momentum after its Q3 2024 earnings call, and it only gained more strength after the election of U.S. President Donald Trump.
- At the end of 2024, Tesla shares were up 62%, as noted in a MarketWatch report.
- Tesla stock is still up 88% over 12 months despite a steep drop over the past month.
Smart move
— Elon Musk (@elonmusk) February 14, 2025
A vote of confidence:
- Bridgewater Associates is one of the largest hedge funds in the world, so the firm’s stake in TSLA could be interpreted as a vote of confidence in the electric vehicle maker.
- Elon Musk has praised the firm’s investment. In a post on X, Musk noted that Bridgewater’s investment was a “smart move.”
- Elon Musk has been quite consistent on his idea that Tesla could eventually become the world’s most valuable company. He emphasized this point during the Q4 2024 earnings call.
- “I see a path. I’m not saying it’s an easy path but I see a path of Tesla being the most valuable company in the world by far. Not even close. There is a path where Tesla is worth more than the next top five companies combined,” Musk said.
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