• 3 minutes China's aggression is changing the nature of sovereignty.
  • 8 minutes Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 11 minutes Europe gas market -how it started how its going
  • 3 hours Russia, Ukraine and "2022: The Year Ahead"
  • 1 day Amazing!...see article: "Turkmenistan To Close "Gates Of Hell" Gas Fire" by Irina Slav
  • 6 hours Why is oil priced and traded in U.S. dollars?
  • 3 hours Ukrainian Maidan after 8 years
  • 6 hours Russia oil production live month after month starting from November 2021 - official stats from Rosstat agency
  • 1 day Сryptocurrency predictions
The Wild Ride For Natural Gas Isn’t Over Yet

The Wild Ride For Natural Gas Isn’t Over Yet

Volatility was the keyword for…

The Geopolitical Risks To Watch This Winter

The Geopolitical Risks To Watch This Winter

There are plenty of geopolitical…



The leading economics blog online covering financial issues, geopolitics and trading.

More Info

Premium Content

Tesla Remains Above $1000 Despite Musk’s $15 Billion Selling Spree

  • According to filings published late Tuesday, Tesla CEO Elon Musk has sold another 934,090 shares.
  • Musk has sold over $15 billion in stock in a month, though the selling spree hasn’t had a tremendous impact on the company’s share price.

Just hours after Wedbush's Dan Ives raised his price target on Tesla to $1,400, we found out that Elon Musk has offloaded yet another $1 billion in stock.

The Tesla CEO sold the 934,090 shares, according to filings published late on Tuesday night.

Additionally, Musk exercised a grant to buy 1.6 million shares at a strike price of just $6.24 per share from a compensation plan dating back to 2012, CNBC reported.

Musk's total holdings have gone from about 170.5 million shares to over 177 million shares, due to exercising options, the same report says. Musk says that the Tesla stock selling spree has been to help offset the tax bill on those options. 

Musk has sold over $15 billion in stock in a month, Reuters reported last Thursday. Tesla investors don't seem to upset by the news and the stock has held up mysteriously well during the selling spree. 

The Tesla CEO said on Twitter last Wednesday that he was "almost done" selling stock. "This assumes completion of the 10b sale," Musk Tweeted last Wednesday. "There are still a few tranches left, but almost done," he continued. 

"I sold enough stock to get to around 10% plus the option exercise stuff and I tried to be extremely literal here," Musk said last Tuesday during an interview with The Babylon Bee, while sipping a White Claw. Musk also commented that he needed to exercise options that were expiring next year "no matter what."

Wedbush's Ives wrote yesterday that China is "key" for Tesla's bull thesis in 2022. He says it's worth $400 per share in the upcoming year. Interestingly enough, there have been questions raised about Tesla suing its critics in China, which we reported on just weeks ago. 

He also wrote that China is expected to represent 40% of deliveries for Tesla in the new year, despite the continued headwind of a chip/component shortage, which he called a "transitory" issue. 

Tesla is up 54% this year, helping Musk achieve the coveted title of "world's wealthiest person" in the process. 

By Zerohedge.com

More Top Reads From Oilprice.com:

Download The Free Oilprice App Today

Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News