![]() ![]() Musk has said on social media that he plans to stop selling his shares in Tesla and to soon step down as Twitter CEO. YouTuber who staged plane crash faces up to 20 years jail () 117 points by tafda 1 hour ago hide 107 comments. Elon Musk is Teslas largest individual shareholder, owning 412.6 million shares, representing 13.04 of the stock. Formerly the world’s wealthiest man, Musk’s fortune is down 58% from its November 2021 peak, dropping 2.2% Friday to $135.4 billion, per Forbes’ calculations. Musk, who first agreed to buy Twitter last April and finally took over the social media company in October, has sold $22.9 billion in Tesla stock since April and spent much of his time leading Twitter as its CEO. The latest Tesla nosedive comes during a strong day for the broader market, with the Dow Jones Industrial Average gaining 1.1%, or 370 points, after the latest employment data revealed a weakening labor market, a sign that the Federal Reserve may soon stand down on its most aggressive interest rate increases. It develops energy storage products for use in homes, commercial facilities and utility sites. ![]() "The Cinderella ride is over for Tesla, and Musk now needs to navigate the company through this Category 5 dark macro storm instead of focusing on his new golden child Twitter, which remains a distraction and overhang for the Tesla story/stock," Ives said.The primary drag on Tesla stock recently has been concerns about demand, which the company is “doing the right strategic moves” to address, Ives said, but added that a majority of Tesla’s 2022 selloff was driven by the actions of Tesla CEO Elon Musk and his high-profile Twitter takeover. Tesla CEO Elon Musk’s trust sold about 1.2 billion in Tesla stock on Friday, according to financial filings posted Friday evening. Tesla stock plunged 9 percent on Friday after a bizarre podcast in which CEO Elon Musk smoked weed and sipped whiskey, and two high-profile executives abruptly announced they were leaving. Musk has said he would step down as Twitter CEO when he finds someone to run the social media platform. Many investors are worried that Musk has become too distracted as CEO of Twitter and isn't paying enough attention to the electric vehicle company. News What Tesla Stock Investors Should Know About The Latest Elon Musk Trial Licensing KIT NORTON 04:03 PM ET Tesla ( TSLA) stock is looking to advance once again as Tesla. Rivian Automotive Inc 15.47 RIVN3.97 Lucid Group Inc 6.34 LCID2.24 Exxon Mobil Corp 102.71 XOM2.37 ProShares UltraPro QQQ 39.93 TQQQ2. Musk sold another $2.58 billion worth of Tesla stock last month and has sold nearly $23 billion worth of his car company's shares since April, when he started building a position in Twitter. Nobody had ever done that, in part because only one other person, Jeff Bezos, has ever had 200 billion to lose. The Tesla stock decline also has cost Musk billions, bumping him out of the top spot for the world's wealthiest person, according to Forbes.Īlso playing into the stock drop is Musk's $44 billion purchase of Twitter and his sale of Tesla stock to help fund the purchase. ![]() Investors will be able to see Tesla's production line, discuss expansion plans and see the platform that will go beneath Tesla's next generation of vehicles. In an apparent effort to shore up the stock price, Tesla announced Monday that it would hold an investor day event on March 1 at its factory near Austin. Tesla stock jumped Tuesday as CEO Elon Musk in an interview with Bloomberg touted the electric vehicle makers competitiveness while also clarifying the companys job cuts. Investors will need to see stability in profit margins despite lower prices, and demand and order trends showing resumed growth this year for the stock to get further support, Osborne wrote in a note to investors early Tuesday. A filing late Friday shows that Musk sold another 1.
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