• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Pro reacts to Musk selling another $3.6 billion of Tesla shares
Investing

Pro reacts to Musk selling another $3.6 billion of Tesla shares

by December 15, 2022
by December 15, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Elon Musk just can’t seem to turn it off.

The billionaire chief executive sold another 22 million shares of Tesla Inc (NASDAQ: TSLA) this week, per an SEC filing on Thursday.

How much did he sell this time?

Proceeds from this sale were worth about $3.60 billion. That’s concerning because Musk had told investors in April that he was done selling Tesla shares.

Still, it’s already the second time (read more) he’s sold more of them since buying Twitter Inc in late October. According to VerityData, the billionaire has sold 94,202,321 shares this year in total generating about $22.93 billion.

Tesla shares are now trading at a price last seen in the final quarter of 2020. Elon Musk is yet to make an official comment on this stock market news.

Expert’s outlook on Tesla shares

Reacting to the filing on CNBC’s “Squawk on the Street”, Gary Black – Managing Partner at the Future Fund LLC agreed that there wasn’t anything wrong with the fundamentals of Tesla Inc but the noise around Twitter must be muted for this stock to regain its glory.

We’d like to see Elon bring in a CEO for Twitter from the social media space. And I believe the board is pressuring him to do that. I can’t imagine a board letting him spend so much time rebuilding a company from the ground up.

Black, in fact, sees several catalysts for Tesla moving forward, including Cybertruck and the Inflation Reduction Act. He expects the EV company to launch a $10 billion share repurchase programme in 2023 as well.

For the year, Tesla shares are now down more than 60%.

The post Pro reacts to Musk selling another $3.6 billion of Tesla shares appeared first on Invezz.

You Might Also Like
  • AMC shares opened 25% down on Thursday: find out more
  • Houlihan Lokey: The best bank stock to buy in 2023
  • Prices in France are falling, but will Eurozone inflation drop?
  • IAG share price recovery hit by turbulence: More upside?
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Novavax shares opened 20% down on Thursday: this is why
next post
S&P 500 could sell-off again next week: Art Cashin

You may also like

SteadyOptions 2024 – Year in Review

January 5, 2025

Protests erupt across China: are Chinese stocks still investable?

November 28, 2022

Josh Brown says this key indicator suggests it’s time to...

November 29, 2022

Options Spreads: Put & Call Combination Strategies

April 19, 2023

Market Chameleon Trial Offer

May 11, 2023

Fed minutes indicate smaller rate hikes ahead: time to buy?

November 24, 2022

European stocks rise to highest point since May 2022

January 10, 2023

Lululemon stock is down 13% today: buy the dip?

December 9, 2022

12 Tips For Building Long-Term Wealth

August 11, 2023

Cathie Wood’s ARK buys 74,792 more Coinbase shares

January 12, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Wells Fargo had its profit cut...

    January 13, 2023

    Cramer says he’s ‘impressed’ of this...

    January 16, 2023

    This ad-tech stock opened 70% up...

    November 28, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here