Home » Tesla falls again on Wall Street, burned $ 200 billion in two sessions. Musk’s brother sells stock

Tesla falls again on Wall Street, burned $ 200 billion in two sessions. Musk’s brother sells stock

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Almost -12% yesterday for Tesla which in two sessions lost almost $ 200 billion in value. Musk’s Twitter survey asking if he should sell 10% of his stake was followed by news of his brother Kimbal Musk selling some shares last week. Yesterday came the lunge of Michael Burry accusing Elon Musk of wanting to sell shares to cover personal debts. According to reports from Business Insider, the investor made famous by the movie ‘The Big Short’ said in a tweet (which no longer appears on his profile) that Musk needs the money for the loans he has taken out using his Tesla shares. . This practice drew scrutiny this summer after a ProPublica investigation detailed how some of the world‘s wealthy borrowed their stocks to minimize their tax burdens. In the second quarter of 2021, Burry himself had increased his bearish bets on Tesla.

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