Home Tech Elon Musk continues to sell off Tesla shares – the company’s value has already fallen below $ 1 trillion

Elon Musk continues to sell off Tesla shares – the company’s value has already fallen below $ 1 trillion

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Elon Musk continues to sell off Tesla shares – the company’s value has already fallen below $ 1 trillion

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Elon Musk continues to sell off Tesla shares - the company's value has already fallen below $ 1 trillion

In late autumn, Elon Musk began to sell off Tesla shares, which caused the company’s market value to go down. Recently, the businessman sold another batch of shares, as a result of which Tesla’s capitalization dropped below $ 1 trillion.

What is known

December 10 Elon Musk sold almost 1 million shares for a total of $ 963 million. According to Bloomberg, on December 13, Tesla CEO dumped another 934,091 shares of the company for $ 906.5 million. This was done in order to cover taxes on the exercise of more than 2 million options on securities companies.

Thus, in five weeks, Musk managed to sell shares worth $ 12.7 billion. Yesterday, December 14, Tesla shares fell by almost 3%, amounting to $ 940 apiece. Moreover, for the first time since mid-autumn, the drawdown was recorded after the close of trading.

As a result, Tesla’s market capitalization fell below the $ 1 trillion mark. Now the securities are traded at around $ 955.76 per share. Despite the slight increase in price, the market value of the company is still below $ 1 trillion – $ 961.73 billion, according to NASDAQ.

A source: Bloomberg

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