Published , by Sam Chandler
Published , by Sam Chandler
Elon Musk, the man who continues to dominate the news cycle, is making headlines again as he dumps another pile of Tesla (TSLA) shares. This time, the Twitter and Tesla CEO has sold $3.5 billion worth of Tesla shares.
SEC Form 4 filings reveal that Elon Musk has sold another $3.5 billion of Tesla (TSLA) stock over a three-day period. This was reported on by Chancery_Daily on Twitter on December 14, 2022. The filings reveal the shares were sold across numerous transactions with the price-per-share falling between a range of $155.43 and $177.15 across all transactions.
Musk sold some $4 billion worth of stock at the start of November. The unit price then was between $189.57 and $219.90. Since that time, the stock prices have fallen to a 52-week low. It’s also worth noting that Musk has previously stated that he had no plans to sell additional TSLA shares after April 28. However, it’s not a leap to assume this is related to his $44 billion purchase of Twitter.
“Just as my money was the first in, it will be the last out,” Musk stated in tweet from 2013 in regards to Tesla. While times change, it’s illuminating to see that he’s willing to sell off Tesla stock if it ensures he can, presumably, continue to pay down his debt.
While we can only infer that the continued sale of Tesla shares is in a bid to make payments on his Twitter debt, Musk has implemented measures to try and make Twitter profitable. With advertisers abandoning the platform, Musk has attempted to monetize the free app with Twitter Blue. For $8 USD a month on PC and $11 USD a month on iOS, users can get a blue checkmark as well as a few other benefits. It’s worth noting that Shackpets offers five different colored checkmarks for one $8 payment.
We’ll be sure to keep you up to date on the latest happenings with Elon Musk. This is unlikely to be the last time he does something noteworthy.