Elon Musk, CEO of Tesla, sold about 22 million more shares in the electric car company, valued at about $3.6 billion, according to a financial report released Wednesday. The deals are between Monday and Wednesday of this week, according to filings with the Securities and Exchange Commission. Quoted by CNBC.
Earlier this year, Musk told his millions of followers on social media that he “doesn’t plan any more Tesla stock sales” after April 28.
According to financial research firm VerityData, Elon Musk has sold 94,200,000 shares so far this year, at an average price of $243.46 per share, for pre-tax revenue of about $22.93 billion.
Tesla stock closed down 2.6% Wednesday, December 14, at $156.80, dropping the company’s market capitalization to $495 billion.
It is noteworthy that Tesla shares fell by 55% since the beginning of the year, as of Wednesday’s closing.