October 3, 2022

Elon Musk Quietly Dumps A Massive $6. 9 Billion In Tesla Shares

Remember way back in 04 2013 when Elon Musk vowed at the Tesla annual shareholders meeting that “ just as my money was your first in, it will be the final out. ” No? Great, because fast forwarding to Tuesday night, we found that Musk just took six. 9 billion steps to be among the first to get […]#@@#@!!

Keep in mind way back in April 2013 when Elon Musk vowed at the Tesla annual shareholders meeting that “ just as my money was the initial in, it will be the last away. ” No? Good, due to the fact fast forwarding to Tuesday night, we learned that Musk just took 6. nine billion steps to be among the first to get the hell out of Dodge.

According to four Form four filings filed late upon Tuesday night, Elon Musk  sold a total of seven. 92 billion (or $6. 9 billion) of shares in  Tesla, the first time he’s sold stock in the carmaker since April, when he or she was allegedly selling TSLA shares to help him “ fund” the Twitter acquisition… for which he dropped his bid shortly after, almost as though the TWTR deal had been just a pretext.

According to the brand new filings,   Musk dumped the shares upon Aug. 5, the day whenever TSLA stocks tumbled a few 8%.

The particular sale took place shortly after Musk’s latest taunt to pants, who it appears were right – judging by Musk’s personal sale – but had been squeezed nonetheless.

With the latest sale,   Musk has now marketed around $32 billion really worth of TSLA stock during the past 10 months.  

Tesla’s share slumped late last year since Musk offloaded more than $16 billion worth of gives, his first sales in more than five years. The disposals started in November right after Musk polled Twitter users on whether he need to trim his stake.

The  shares  have risen about 35% from its recent lows in May. Several have noted how each time Musk dumps a boatload of stock, an unexplained gamma squeeze kicks in just before the sale, affording Musk a far higher selling price.

It is surely also a coincidence, that will just as Musk was about to dump his shares, a huge burst of retail purchasing emerged in recent several weeks, which it is safe to state, spilled over into meme stonks and forced the newest WallStreetBets short squeeze. As a reminder, last Wednesday we had written that “ Surge In Retail Buying Revealed As Source Of Latest Tesla Stock Surge . ” Perhaps some regulator will certainly finally look into this.

Of course , there is a less sinister explanation: Musk and Tweets have reached a settlement agreement, and Musk was quietly prefunding the balance of his purchase commitments, which means that Twitter employees are about to have a very uncomfortable night. Then again, if not you can add this latest Tesla mega-dump to the long list associated with bizarre events Musk will need to explain in court in some months…

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