Musk said, “If we do have another 2009 situation, the stock price of everything is gonna be lower.” Musk also stated, “I’m somewhat paranoid having gone through two really intense recessions,” suggesting that his companies might want cash on hand to weather what he sees as an upcoming recession, or at least some sort of “macro drama.” This belief is likely behind Tesla’s hiring freeze and layoffs. No further TSLA sales planned after today- Elon Musk April 29, 2022 So investors may be glad to hear that he is done selling, but they’ve heard that before. Despite routinely saying he would be the last person to sell TSLA stock for the last decade, Musk has sold large chunks of stock several times over the last year. However, Musk has said this many times before, and has still sold Tesla stock. Tesla CEO Elon Musk, Dec 22, twitter space Definitely not next year under any circumstances. I needed to sell some stock just to make sure there’s still some powder dry to account for a worst-case scenario… I won’t sell stock until probably two years from now. You can count on me, no stock sales until 2025 or something. ![]() I’m not selling any stock for, I dunno, a minimum of 18-24 months. Today, Musk stated that he wouldn’t sell any more stock: Tesla investors don’t seem to see the upside of these stock sales for the future of Tesla, even though Musk says it will help the EV company in the long term. Musk’s sales have happened in a high-profile way and for inopportune reasons, as well. Generally, insider stock sales send a signal to the market that insiders, particularly the CEO, may not have full confidence in the company’s performance, and add negative pressure to a stock price. Part of the difference could be related to Musk’s recent large sales of Tesla stock, having sold tens of billions over the course of the last year to fund his Twitter acquisition (aka disaster, aka dumpster fire). Surely they’ve had an effect, but Musk is perhaps overstating that effect. Musk contends that fed interest rates are the primary contributor, both because it drives capital flight from equities and into safer bonds as bond yields go up, and because it suppresses demand for consumer products that are often bought with debt, such as autos (or, perhaps, Twitter itself, which Musk took on tens of billions in loans to buy).īut investment experts have countered the assertion that fed rates have driven TSLA stock’s fall, saying that Tesla’s performance has underperformed other stocks in the automotive sector even as bond yields have held steady. The main point of contention with Gerber has been regarding the source of TSLA’s recent price drop. Today he finally went into a public Twitter space to talk about these issues, including with Ross Gerber, the aforementioned investor with whom he has been feuding. Musk has faced many questions about his recent behavior with Twitter, as most of his public time recently has involved getting in fights with investors or trying to stop a routine spending bill. "We are excited to announce insulin is free now," Twitter account wrote.īecause the account seemed legitimate and it wasn't clearly marked as Twitter Blue verified, people assumed it was real.īy Friday morning, Eli Lilly's stock fell to $346.Tesla CEO Elon Musk joined a Twitter space today to speak about the recent moves in TSLA stock and defends his recent actions from Tesla investors who have called for him to stop wasting time on Twitter, the social media site that he recently purchased. Later that night a Twitter Blue subscriber created a fake Eli Lilly account and began tweeting as though they were the company. On Thursday, Eli Lilly's stock closed around $368 USD. Sign up for our free Indy100 weekly newsletter Quickly, Musk ran into impersonation problems and decided to add a feature that would tell Twitter users which accounts were verified for notability versus subscription.īy clicking on the blue checkmark on a verified Twitter user's profile, people can tell why their account received verification. ![]() ![]() When Elon Musk introduced Twitter Blue it was to allow anyone to obtain a verified check mark so long as they paid the $8.99 subscription fee. Pharmaceutical company Eli Lilly saw a sudden drop in its stock thanks to an impersonator using Twitter Blue.
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