Musk recently sold approximately 7.9 million Tesla shares, with a total value of about $ 6.9 billion. Tesla’s stock price was affected by the transaction. In these three trading days, the price fell 8.8%to $ 850 per share. As of now, Tesla’s stock price has fallen by 29%this year. Musk still owns 155 million shares of this electric car manufacturer, worth more than $ 130 billion.
The industry generally believes that Musk’s unusual stock transaction this time, the purpose is to prepare for the loss of disputes in Twitter to ensure that there is enough cash flow to pay for the cost that may be incurred after the loser. According to reports, Judge Wilmington (Tellawa), who is responsible for the case, has set the trial time between October 17th and 21st.
Earlier in April, Musk, the world’s richest man, announced the acquisition of Twitter for about $ 44 billion (about 43 billion euros). Three months later, in July, Musk announced the termination of the acquisition on the grounds that Twitter’s serious violations of the agreement. Subsequently, Twitter announced that Musk was sued the acquisition case.
Post time: Aug-11-2022