Tesla stock slips as Musk sells another $3.58 billion of its shares.
- Shares of Tesla are sliding before the market open on Thursday after news broke that CEO Elon Musk sold another $3.58 billion worth of the electric vehicle maker’s stock this week.new owner of Twitter
Musk has sold nearly $23 billion worth of Tesla stock since April, with much of the money likely going to help fund his $44 billion acquisition of Twitter. Early last month heThe sale comes as shares of the electric vehicle and solar panel maker have collapsed, losing over half their value since Musk first disclosed in April that he was buying up Twitter stock.
“The Twitter nightmare continues as Musk uses Tesla as his own ATM machine to keep funding the red ink at Twitter which gets worse by the day as more advertisers flee the platform with controversy increasingly driven by Musk,” Ives wrote.
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