Elon Musk has sold nearly $7 billion worth of shares in Tesla as the billionaire gets his finances in order ahead of his court battle with Twitter.
File: Tesla CEO Elon Musk waves as he attends the start of the production at Tesla's"Gigafactory" on March 22, 2022 in Gruenheide, southeast of Berlin. has sold nearly $7 billion worth of shares in Tesla as the billionaire gets his finances in order ahead of his court battle with Twitter.
Musk disclosed in series of regulatory filings that he unloaded about 8 million shares of his company Tesla Inc. in recent days. "In the event that Twitter forces this deal to close and some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock," Musk tweeted late Tuesday.Shares of Tesla rose almost 2% before the opening bell Wednesday. Shares of Twitter Inc., up 16% in the past month with most believing Musk faces long-shot odds of success in court, jumped another 3%., accusing the company of fraud over his aborted $44 billion acquisition.
"We can also see Musk trying to resolve this powder keg situation before the Twitter deal officially heads to court in October," Ives wrote. "At a minimum, we see Twitter getting a massive settlement from Musk in the $5 billion to $10 billion range that is starting to be factored into the stock."By clicking Sign Up, I confirm
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