Tesla Stock Plummets 12% On Musk Stock Sale Plan

by Sloan T. Wilson, The Chicago Times

November 9, 2021

NEW YORK — Tesla stock plummeted 12% on Tuesday after CEO Elon Musk proposed selling 10% of his stake in the electric vehicle company over the weekend.

The decline is on track to be the largest of the year following a 47% increase in 2021.  Current and former board members, including chairwoman Robyn Denholm, Kimbal Musk, Ira Ehrenpreis, and Antonio Gracias, have also sold hundreds of millions of dollars in Tesla stock since Oct. 28, when the company’s market capitalization reached $1 trillion.

Categories: Business

Tagged as: , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s