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Princess Turandot

(4,886 posts)
11. This might be a little confusing, since the article focused on The Tweet..
Fri Feb 25, 2022, 07:04 AM
Feb 2022

A quick summary:
- On November 5, Kimbal Musk sold $108 million worth of shares in Tesla
- The next day, November 6, Elon Musk launched his bizarre Twitter poll, asking the twitterverse if he should sell any of his Tesla stock
- Two days later, November 8, Elon Musk started selling his Tesla stock. The purpose of his first sales transaction, in which he sold 934,091 shares worth $1.1 billion, was apparently to get cash to pay a tax bill related to options he had recently exercised
- He continued to sell his stock over the next week or so. In total, by November 16, he sold 8,230,057 shares, for $8.8 billion
- Tesla's stock price has fallen about 33%, since Musk began selling his on November 8

What the SEC is probing (I assume) is whether or not Elon told his brother what he was going to do the following week, since it was likely going to take a whack at the share price.

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