According to a document from the Securities and Exchange Commission (SEC), the American federal body of regulation and control of the financial markets, Elon Musk sold for the equivalent of 3.6 billion dollars of shares of Tesla. Investors in the builder of electric cars begin to lose patience with the billionaire.
In April, however, Musk declared on Twitter that he would not sell any more shares of Tesla during the year 2022.
More than 94 million Tesla shares sold this year
This last transaction took place between this Monday 12 and Wednesday 14 December. Elon Musk has sold 22 million shares of Tesla, bringing his total to more than 94 million shares liquidated since the start of the year. Within days of his takeover of Twitter, he was selling 4 billion shares so he could complete the $44 billion deal.
In fact, Musk told Twitter employees during this latest sale that he was doing this in order to ” save their business. It is therefore very likely that the operation carried out this week also has the objective of injecting money into the takeover of the social network. A year ago, the billionaire’s stake in Tesla was 17%, now it is 13.4%.
Tesla investors are losing patience
For the time being, neither Tesla nor its CEO have spoken on this subject, but the firm’s investors do not seem at all reassured by Musk’s approach. ” It doesn’t instill much trust in the company, or say a lot about where its attention is. It’s not a good situation. I have spoken to a lot of investors who have Tesla shares and they are absolutely furious with Elon says Tony Sycamore, an analyst at IG Markets, where Tesla is popular among retail investors.
The company’s shareholders are all the more upset that Tesla shares are down sharply this year. In question, the difficulties encountered in the supply chain but also the acquisition of Twitter by Musk, which cooled investors. The manufacturer has also declared that it will not reach its vehicle sales target this year.
Investors fear Musk’s attention has shifted from Tesla to Twitter, especially since the businessman also heads SpaceX and Neuralink.
Sources: CNBC, Reuters
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