Elon Musk reported selling about 4.4 million Tesla shares amounting to around $4 billion recently, according to several Form 4 SEC filings.
According to the SEC filings, Elon Musk filed five Form 4s. The filings were split into five forms due to the volume of transactions. The Form 4s cover 138 individual transactions that occurred on two separate dates, April 26 and 27, 2022. Musk announced that there would be no further TSLA sales planned for today.
Tesla shares fell 12% earlier this week on Tuesday, resulting in a $126 billion loss. The drop occurred after Elon Musk revealed he would be selling some Tesla shares to fund his part of the $44 billion Twitter acquisition deal.
“The $21 billion in equity financing for Twitter will result in some piece of Musk’s Tesla ownership being sold over the coming year even though a core piece of this financing is likely held as collateral and not actually sold in the transaction. This is why $TSLA [is] down as overhang,” explained Wedbush analyst Dan Ives at the time.
By Wednesday, TSLA rebounded. As of this writing, Tesla shares are priced at $877.51, down -.45%. The company’s market cap stands at $906.92 billion.
See all of Elon Musk’s recent SEC filings below.
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