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Tesla Stock Price Smashed By 4.8% After Musk Sold 10% Of Shares

Tesla stock price smashed by 4.8% after Musk sold 10% of shares

Tesla CEO Elon Musk recently launched a poll on Twitter. The results were announced. Nearly 60% of netizens supported him to sell 10% of Tesla's shares. Musk also agreed to implement the voting results. Affected by the news of Musk's holdings reduction, Tesla's stock price plummeted 4.8% on November 8, back-testing the 10-day moving average. The Wall Street Journal, CNBC and other foreign media reported that Musk used Twitter's voting function on the 7th to let netizens decide that he should sell 10% of Tesla's shares, which is worth up to 21 billion U.S. dollars based on the closing price on the 5th. This vote attracted more than 3.5 million netizens to participate, 57.9% expressed support, Musk responded on Twitter, no matter what the result, he will gladly accept. The MoneyDJ XQ global winner system quotation shows that on the 8th, Tesla's share price plunged 4.84% to close at $1,162.94, approaching the 10-day line of $1,145.67. Since the beginning of this year, Tesla's stock price has risen 64.8%. With many bullish news, Tesla's stock price rose sharply this year, including its outstanding performance in the third quarter, and its three-quarter profit hit a new single-quarter high, mainly due to the company's successful response to the high pressure of global supply chain disruption.

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Source: tradingeconomics.com
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