(CercleFinance.com) – Tesla shares fell again on Wall Street on Wednesday following the announcement by its co-founder and CEO Elon Musk of a sale of securities representing nearly four billion dollars.
Around 10:15 a.m. (New York time), the stock fell 0.3%, bringing its decline over the past two months to more than 36% and close to 50% over the last 12 months.
In a series of forms sent last night to the SEC, Elon Musk says he sold Tesla shares for a cumulative amount of around four billion dollars, a sum which – according to analysts – should enable him to complete the financing of the acquisition of Twitter.
‘We were concerned that Musk might be forced to sell more stocks as the closing of this disastrous deal neared and those concerns materialized last night, which by the way explains the enormous selling pressure the stock has been under recently’ , says Dan Ives, analyst at Wedbush Securities.
In a note of reaction, this connoisseur of the file recalls that the billionaire had nevertheless committed in the past to no longer sell shares in his group.
‘Where will all this end?’ he wonders. Which is the center of attention, Tesla or Twitter?’, continues the professional.
“Won’t the Twitter fiasco end up tarnishing Musk’s image and therefore the Tesla brand?” he asks.
In his study, Dan Ives urges Elon Musk to return his full attention to the ‘goose that lays the golden egg’, Tesla, as the maker of electric vehicles faces a slowing global economy , production and delivery problems in China and growing competition.
“Our long-term opinion of Tesla remains positive, but all this madness around Twitter must stop, just like the disposals of Tesla securities,” he concludes, renewing his “outperformance” opinion on the title.
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