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Elon Musk sells millions of Tesla shares days after Twitter deal

Elon Musk has sold roughly $4bn of Tesla shares over the past few days, most likely to help fund his purchase of Twitter.

The 4.4 million shares were sold at prices ranging from $872.02 to $999.13 and Mr Musk reported the sale in a filing with the Securities and Exchange Commission on Thursday.

Most of the sales took place on Tuesday – a day when shares in Tesla closed down 12%.

Musk told his 88.5 million Twitter followers early on Friday: “No further TSLA sales planned after today”.

Tesla shares closed down slightly late on Thursday, and they are down 17% so far this year.

Analysts have also expressed concern that taking over Twitter could mean Mr Musk spends less time on Tesla, the electric car company of which he is chief executive.

SourceSky News

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