Elon Musk Sold his Tesla shares

[bramhacharimogudu]

https://www.reuters.com/business/autos-transportation/tesla-selloff-puts-risk-its-1-trillion-club-membership-2021-11-10/

Nov 10 (Reuters) - Tesla (TSLA.O) Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday, just days after he polled Twitter users about selling 10% of his stake.

In his first share sale since 2016, Musk's trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while he also sold another 934,000 shares for $1.1 billion after exercising options to acquire nearly 2.2 million shares.

 

The 4.5 million shares equate to about 3% of his total holdings in the electric vehicle manufacturer, which makes up the vast part of his estimated $281.6 billion fortune, according to Forbes.

Musk on Saturday polled Twitter users about selling 10% of his stake, helping to push down Tesla's share price after a majority on Twitter said they agreed with the sale.

 

The stock sank 12% on Tuesday in a multi-day selloff that endangered the company's position in the $1 trillion club, but recovered 4.3% on Wednesday. read more

The options-related sales were set up in September through a trading plan that allows corporate insiders to establish preplanned transactions on a schedule, the filing said. The sales of the option-related shares paid for associated taxes. It was not clear how or whether the trading plan related to Musk's Twitter poll. Tesla did not respond to a request for comment.

 

The additional share sales were separate and provide Musk with sizeable reserves of cash, given his wealth is largely tied to his stakes in Tesla and SpaceX.

Musk has more than 20 million further stock options that are due to expire in August of next year.

If Musk carried out the 10% stock sale plan, it would be a slight negative near term, said Mark Arnold, chief investment officer at Hyperion Asset Management in Brisbane where Tesla is the top holding in its global fund.

"But the stock is pretty liquid and its not a huge percentage of total issued shares, so it shouldn't have that much of an impact ... we're quite comfortable with the outlook for the business," he said.

While Tesla has lost close to $150 billion in market value this week, retail investors have been net buyers of the stock. Some 58% of Tesla trade orders on Fidelity's brokerage website on Wednesday were for purchases, rather than sales.

Retail investors made net purchases of $157 million on Monday and Tuesday, according to Vanda Research.

Tesla is now up more than 51% in 2021, thanks largely to an October rally that was fueled by an agreement to sell 100,000 vehicles to rental car company Hertz (HERTZ.UL). read more

"The company itself is on fire, with strong results," said Tim Ghriskey, a senior portfolio strategist at New York-based investment management firm Ingalls and Snyder.

Bullish sentiment returned to Tesla's options on Wednesday, with about 1.1 calls traded for every put. Calls are typically used for bullish trades, while buying puts shows a bearish bias. read more

The company's options accounted for about $109 billion in premium changing hands over the last two weeks, or about one in every three dollars traded in the U.S.-listed options market, according to a Reuters analysis of Trade Alert data.

[bramhacharimogudu]

8 minutes ago, bramhacharimogudu said:

https://www.reuters.com/business/autos-transportation/tesla-selloff-puts-risk-its-1-trillion-club-membership-2021-11-10/

In his first share sale since 2016, Musk's trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while he also sold another 934,000 shares for $1.1 billion after exercising options to acquire nearly 2.2 million shares.

Musk has more than 20 million further stock options that are due to expire in August of next year.

 

@DummyVariable @vampire @Spartan @sri_india

em chebtunnadu ikkada musk 934k shares ammi aa dabbultho vaadi options excercise cheste vaadiki inkoka 2.2 million shares add ayinaayaa, inkaa future 20 million stock options vunnayaa vaadu excercise cheyyadaniki

[DummyVariable]

25 minutes ago, bramhacharimogudu said:

@DummyVariable @vampire @Spartan @sri_india

em chebtunnadu ikkada musk 934k shares ammi aa dabbultho vaadi options excercise cheste vaadiki inkoka 2.2 million shares add ayinaayaa, inkaa future 20 million stock options vunnayaa vaadu excercise cheyyadaniki

Those are his salary related options. They were probably nearing expiry so may be a planned sale.

Exercised options to get 2.2 million shares. Out of these he sold 934k for $1.1 billion. Since it is salary related, he had to pay taxes on them. Probably sold a few to coverup for the amount due. 

[jalsa01]

23 minutes ago, bramhacharimogudu said:

@DummyVariable @vampire @Spartan @sri_india

em chebtunnadu ikkada musk 934k shares ammi aa dabbultho vaadi options excercise cheste vaadiki inkoka 2.2 million shares add ayinaayaa, inkaa future 20 million stock options vunnayaa vaadu excercise cheyyadaniki

alage undhi bro.. chudaniki edo virtual trade chestunnatu marustunnadu

[Mr Mirchi]

1 hour ago, bramhacharimogudu said:

@DummyVariable @vampire @Spartan @sri_india

em chebtunnadu ikkada musk 934k shares ammi aa dabbultho vaadi options excercise cheste vaadiki inkoka 2.2 million shares add ayinaayaa, inkaa future 20 million stock options vunnayaa vaadu excercise cheyyadaniki

Gym lo excercise chesthunnadaa

[Mingutha]

[Battu123]

Annareturns konnadu

[sri_india]

8 hours ago, bramhacharimogudu said:

@DummyVariable @vampire @Spartan @sri_india

em chebtunnadu ikkada musk 934k shares ammi aa dabbultho vaadi options excercise cheste vaadiki inkoka 2.2 million shares add ayinaayaa, inkaa future 20 million stock options vunnayaa vaadu excercise cheyyadaniki

Yeah , very smartly played .... Aaa hertz deal kuda scam ayina acharyam ledhu

[andhra_jp]

Own Tesla Stock? Be Like Elon Musk and Sell 
 
Did Elon Musk outsource the decision of whether to sell his Tesla stock to his Twitter followers because he’s a wacky billionaire who is angry about Democratic tax plans? 
Or is it because he knows more about Tesla’s true value than anyone else, and thinks now’s the time to get out?  

Tesla sits at the intersection of three strong trends, and a change in any one of them could lead to a rapid fall back in the stock. 

The first are meme stocks. Tesla is the original meme stock, supported by individuals who’ve done very well by following Mr. Musk, and who don’t take kindly to anyone who disagrees. 
No matter the reality of sales, competition, margins, subsidies or anything else, Mr. Musk has attracted supporters who not only buy, but actively promote Tesla shares.

The second is the willingness of investors to bet on the far distant future. 
Tesla doesn’t make very much money, or indeed very many cars, at the moment. 
It is valued at $1.3 million for each of the 900,000 or so cars it is forecast to deliver this year because of the potential for growth. 
The value of the company doesn’t lie in this year or next year’s sales, but on hopes for sales and profits far in the future.

The third supportive trend is the desire for green technology. 
It’s great to be an electric-car maker at the moment. 
Governments are pushing electric cars and the rest of the industry is stuck with the wrong sort of factories, has the wrong sort of research expertise and hasn’t yet built vehicle-charging networks. 
Tesla is on the right side of governments and investors pledging action to reduce carbon emissions.

Cashing in your Tesla shares now locks in the gains, even if it does ensure they are taxable.

https://www.wsj.com/amp/articles/own-tesla-stock-be-like-elon-musk-and-sell-11636462480?mod=wsjhp_columnists_pos1

[sri_india]

8 hours ago, DummyVariable said:

Those are his salary related options. They were probably nearing expiry so may be a planned sale.

Exercised options to get 2.2 million shares. Out of these he sold 934k for $1.1 billion. Since it is salary related, he had to pay taxes on them. Probably sold a few to coverup for the amount due. 

Vaadu ammadam kadhu , he places sell order in September but last week hangama chesadu twitter lo ammalaa vodda Ani poll petti