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Elon Musk sold Tesla shares worth approximately $ 4 billion in the days following the launch of the bid to acquire control of Twitter, according to filings with the Securities and Exchange Commission. Most of the purchases took place on Tuesday, just as Tesla stock prices sank by about 12%.
The CEO of Tesla and SpaceX has released a total of about 4.4 million Tesla shares, but has assured that he will not sell any more. Musk in fact wrote on Twitter: “There are no further sales on Tesla after today”.
Tesla falls by more than 2%, while Twitter drops in the premarket by 0.60%.