As a person who likes and follows Elon, I was just shocked when I heard that about $900 million of Tesla's stock has once again shared!
Elon Musk's huge influence on digital marketing, deposits, technology, etc. is undeniable, but every now and then he makes a move to bring his followers to awe and shock, moves that not even his colleagues & co-workers would expect! About a week ago as Tesla's stock slid, Elon decided to offload the whole thing by the exact number of $884 million; bringing it to a selling spree of $14 billion.
Sources report some opposition from inside the Tesla, but nevertheless Elon made this unpredictable so called "Chess Move" on Thursday, dumping another chunk of the EV maker's shares, worth more than a half billion. This spree selling out actually started since November 8th and apparently brought good fortune to Elon's net worth, raising his total net worth to a balance of $290 billion.
Do YOU think he's making a mistake?
Paying for taxes on the exercise of options is said to be the main reason for Elon's newly behaviour, yet lot of people from Tesla think the Tesla CEO declining down %13 in just one month is definitely NOT a good sign!
On the first round of these sales which happened on Monday, the selling number was even bigger & about $22 million more. The electric-vehicle maker's CEO stepped up and released $906 million, before his $884 billion less than two days ago. Will there be a big haul in the next few days? I guess not. At least not for a while...
August 2022 will make a difference:
Analysis show that a 10% target reaching in near future, although these are all a closure to what next year's changing entitlements will bring for Tesla Co.
Tapping options, selling large chunks and polls, were all granted back in 2012, but in very near future (August 2022) the process of covering tax obligations for exercising options WILL EXPIRE and so it will largely affect Tesla & so many other companies, either dependent or independent. So offloading multiple amounts of shares will continue until the mentioned date. Elon Musk has now accomplished to sell $17 billion of the overall $22 billion with the August deadline coming.
Not so far ago, the Tesla Co. Boss was named "Person of the Year" by the Time Magazine & so he made a following interview with Time, with his newly born son X Γ A-12 sitting on his feet! Elon talked about a big circle of things in that interview but saw risk when speaking of Tesla's stock market & stayed quite.
"My career is Mars & Cars" he said.
Surley, lots of people like me, are waiting restless for his next move & the affect in result when it hits the market. The owner of Tesla, SpaceX, The Boring Company & five more massive instructions, will have a following public interview on Dec 21st.
Follow up link for you, I advise you to read this as well:
https://www.reuters.com/markets/deals/tesla-faces-investor-lawsuit-over-musk-tweets-10-stock-sales-2021-12-17/
The photos are chosen from Google, Time Magazine & Reuters.
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Special thanks to PeakD & of course the brilliant GEMS community! π
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