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Shares in electric vehicle maker Tesla sank to a new 52-week low on Tuesday, closing around $138 per share, or 8% lower for the day in an otherwise mixed day for stocks. CEO Elon Musk tried to blame the sinking price partly on macroeconomic factors. Long-time Tesla bull Ross Gerber wrote in a tweet, “Tesla stock price now reflects the value of having no CEO. Great job tesla BOD — Time for a shake up. $tsla.” Gerber has launched an informal campaign to have fellow share holders vote to appoint him to Tesla’s board of directors. Musk replied, in a tweet, “As bank savings account interest rates, which are guaranteed, start to approach stock market returns, which are not guaranteed, people will increasingly move their money out of stocks into cash, thus causing stocks to drop.” Musk sells $3.6 billion worth of Tesla shares Dec. 16, 2022 04:54 But Tesla’s stock has dropped more than other larger automakers since Musk announced his plans to buy Twitter in Apr. 2022. Since that date, Tesla sh...

Tesla CEO Elon Musk sold about 22 million more shares in his electric vehicle business worth around $3.6 billion, according to a financial filing out Wednesday night. The transactions took place between this week, according to the filings with the Securities and Exchange Commission. Musk told his millions of followers on social media this year that he had “no further TSLA sales planned” after April 28. According to the financial research firm VerityData, Musk has sold 94,202,321 share s this year at an average price of $243.46 per share , for pretax proceeds of about $22.93 billion. VerityData’s director of research, Ben Silverman, wrote in an e-mail to CNBC on Wednesday, “Musk’s prior sales going back to November 2021 were expertly timed, so Tesla share holders need to pay attention to Musk’s actions and not his words — or lack thereof when it comes to his recent selling.” However, he continued to sell parts of his sizable holdings in Tesla after he agreed to buy Twitter in a deal wor...

In this article TSLA TWTR Follow your favorite stocks CREATE FREE ACCOUNT Anadolu Agency | Anadolu Agency | Getty Images Tesla CEO Elon Musk sold about 22 million more shares in his electric vehicle business, which were worth around $3.6 billion, according to a financial filing out Wednesday night. The transactions took place between Monday and Wednesday this week according to the filings with the Securities and Exchange Commission. Earlier this year, Musk told his millions of followers on social media that he had "no further TSLA sales planned" after April 28. However, he continued to sell portions of his sizable holdings in Tesla after agreeing to buy Twitter in a deal worth around $44 billion. The acquisition closed in late October. Musk, who is also CEO of SpaceX, a major defense contractor, immediately appointed himself CEO of the social media company. After Musk's Twitter takeover, he told employees there that he sold Tesla shares to "save" their busines...