Musk sold more than $1.1 billion of shares after the vote

Share the QR code with wechat scanning code to friends and circle of friends musk fulfilled his "promise" on November 11, Beijing time, according to the documents submitted by Tesla, Tesla CEO musk sold shares worth more than $1.1 billion. According to the documents, musk exercised the stock option on November 8 and purchased 2154572 shares at the price of US $6.24. This part of the option will expire on August 13, 2022, and sold 934091 shares on November 8, with the selling price range of US $1139.05 to US $1196.6 foreign media believe that musk sold these shares in part to fulfill the tax obligations related to the exercise of stock options it is worth noting that musk voted on twitter on the 7th to ask netizens whether they want to sell 10% of Tesla shares, worth more than $20 billion musk also said that he would abide by the voting results regardless of the results. The final voting results on November 8 showed that nearly 58% of the people were in favor of the sale, with a total of more than 3.5 million votes. According to this result, musk should sell the stock however, according to the disclosed regulatory documents, musk has long planned to cash out, but only made a marketing on the social network after the twitter poll, Tesla's share price fell by more than 15% on Monday and Tuesday, and then rebounded by more than 4% on Wednesday earlier, musk hinted that he might sell "a large block" of options in the fourth quarter. In September & nbsp; At the code conference, musk said that when his stock option in Tesla expires, his marginal tax rate will exceed 50% since Tesla's market value exceeded $1 trillion on October 28, current and former board members, including Chairman Robyn Denholm, brother kimbal musk of Elon Musk, IRA ehrenpreis and Antonio Gracias, have sold hundreds of millions of dollars worth of Tesla shares according to the documents disclosed after hours on November 9, kimbal musk, one of Tesla's directors, sold 88500 Tesla shares on November 5, with an average selling price of US $1229.91 per share, about US $109 million extended reading: musk personally "smashed" Tesla's troubles constantly source: Beijing business daily issued the seven step poem in Chinese, rejected the "forced donation" WFP, and asked fans to vote whether to sell stocks... Although people have long been accustomed to Tesla CEO Musk's various operations, the market does not eat this set. Tesla shares fell 5% from before trading on Monday to 12% at the close on Tuesday, and the market value of nearly $200 billion evaporated. Looking behind, rivian, a cutting-edge electric pickup truck called "Tesla killer", is about to appear on NASDAQ. According to the current valuation, it will become the largest IPO of US stocks in 2021 nearly $200 billion evaporated in two days after standing at the market value of trillions of dollars, Tesla stepped on the brake all the way. At the close of US Eastern time on Tuesday, Tesla reported US $1023.5, down nearly 12%, with the latest market value of US $1.02 trillion. The day before, Tesla also fell sharply, closing down 4.8%. Tesla's market value evaporated by 16.2% in two trading days, totaling $19.8 billion Musk's "high-profile reduction" may be the main reason for Tesla's sharp decline. Last week, musk launched a vote on Twitter to let 62.5 million fans decide whether he should sell 10% of Tesla shares. The voting results showed that 57.9% supported musk to sell shares according to the calculation of Reuters, musk holds about 170.5 million Tesla shares, which are worth $21 billion according to the closing price on the day of voting. According to the latest closing price, Musk's 10% stake is worth about $17.442 billion compared with musk, his brother kimbal musk has started selling. Tesla's latest announcement shows that kimbalmusk sold 88500 Tesla shares on November 5, with an average price of $1229.91, cashing out about $109 million in total. According to the estimate of the announcement, Musk's brother's share sale accounts for about 15% of his shares in addition, several Tesla shareholders have recently sold their shares. In June this year, Tesla announced that Jerome Gillan, President of the company's previous heavy truck department, had resigned. Since then, Jerome sold Tesla shares worth about $274 million from June 10 to 18. A month later, Tesla's chief accountant vaibaf tanea sold 4459 shares and cashed out $2.94 million. In September, Zachary kirkhorn, Tesla CFO, also sold 2780 shares and made a small cash out of $2.09 million for the impact of musk and shareholder selling, the reporter of Beijing business daily contacted Tesla, but no reply has been received as of press time on the other hand, the diving stock price has more or less affected Tesla's major customers. At the end of last month, Hertz Global Holdings, the world's largest car rental company, said it had placed an order for the first 100000 Tesla vehicles by the end of 2022, with an order value of $4.2 billion. Tesla's share price therefore stood at $1100, with a total market value of more than $1 trillion after hitting Tesla, Hertz took advantage of the hot iron and decided to re list and issue 20% more shares. Hertz car rental was re listed on NASDAQ on Tuesday local time. But the results were shocking. Hertz's car rental broke on the first day of its re listing, plunging nearly 24% selling is just a black swan many people regard Musk's high-profile reduction as the "initiator" of Tesla's share price plunge. However, the motleyfool, a research and investment website, believes that although the exact reason for Tuesday's share price decline is not clear, it may only represent the continuation of the downward momentum of yesterday's decline. In the coming weeks, the fluctuation of Tesla stock may continue, because the company has risen 44% in October. After this "epic rise", the stock may "take a breath" Matt Portillo, an analyst at Tudor Pickering, pointed out: "in the long run, Tesla's share price is extremely overvalued, and investors are worried about valuation. Musk's stock sale vote provides investors with 'an excuse to retreat'. at present, Tesla's market value is basically equivalent to the sum of all traditional carmakers in the world. Matthew Maley, chief market strategist at Miller Tabak & Co, said the decline in Tesla's share price was part of a normal and healthy correction, which was a response to overbought conditions but some people think Tesla's market value will continue to fall. According to the latest forecast of David trainer, CEO of investment research firm new structures, he believes that Tesla's market value is overvalued ?
2023-03-22 10:04:46

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