With so much of the wealth of the world’s richest man in its electric car company shares, Tesla is a part of a deal that Elon doesn’t want to do for more reasons than just a few summonses. Six SEC filings (1, 2, 3, 4, 5, 6) showed that Elon Musk sold more Tesla shares in the past few days, which is surprising. Musk’s tweet It said “no further TSLA sales are planned after today,” after selling $8.4 billion in April.
Tesla Investor Sawyer Merritt tweeted A count of Musk’s activities between August 5 and August 9 showed he sold 7,924,107 shares worth approximately $6.9 billion. Just before 11PM ET, Elon replied on twitterCiting the ongoing lawsuit against Twitter as an explanation for the new plan.
No further TSLA sales planned after today
— Elon Musk (@elonmusk) April 29, 2022
In the (hopefully unlikely) event that Twitter forces the close of the deal *and* some equity partners don’t, it’s important to avoid an emergency sale of Tesla stock.
— Elon Musk (@elonmusk) 10 August 2022
Musk sold those shares earlier this year to help finance his acquisition of Twitter, and now that he’s trying to get out of the arrangement, he’s in a Delaware courtroom starting October 17. Going to fight it. Twitter CEO Parag Agarwal is not heeding Elon’s challenge to public debate, with no word of any pending settlement. Musk now says he has “a reason to prepare for the (hopefully unlikely) event that Twitter forces the closure of the deal *and* some equity partners don’t come.” If that happens, Musk said, he is trying to avoid an emergency sale of Tesla stock.
Exactly how investors will react to word that Musk has been sold (again) is unknown; However, Tesla shares held steady at around $850 in after-hours trading. Wedbush analyst Dan Ives Tweets“After Musk sells TSLA stock saying that with no further sales, Street will focus on Twitter deal likely and Musk prepares for cash portion… This stock sale will be on the Street for bulls/bears in the morning.” Will have a lot of conversations.”