Tesla Market Value Halves In a Year Rocked by Elon Musk Stake Sales
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Elon Musk’s $3.95 billion sale of Tesla Inc. stock prolongs a rough period for investors in the electric carmaker, whose market value has halved in the past year.
Elon Musk's $3.95 billion sale of Tesla Inc. stock prolongs a rough period for investors in the electric carmaker, whose market value has halved in the past year after becoming tied to the twists and turns of Musk's Twitter Inc. buyout. While the Tesla chief has repeatedly said he's done selling the shares, the latest sale brings total proceeds to about $36 billion. Musk began unwinding his holding a year ago, when his Twitter followers backed him trimming his stake in response to a poll. He still owns about 14%, according to Bloomberg data. “Musk selling stock again after saying he wouldn't can only leave the do...