Economy

Elon Musk continues to sell Tesla shares: are there problems ahead?

In addition to the large sums of money obtained lend From the banking group, Elon Musk had to create a series of Sales operations of Tesla shares, which raised many doubts about potential financial problems for the companies he runs. This process has certainly dampened investor sentiment on Tesla stock already hard enough from the current economic context.

Elon Musk is selling Tesla shares for the fourth time in 2022

The sale transaction was carried out by the CEO of Tesla Between 12th and 14th Decemberfor a total of approx 20 million shares equivalent value higher than $3 billion, according to a Securities and Exchange Commission filing. and the Fourth time During the year 2022 that the businessman unload the shares of the electric vehicle manufacturer. By November, he had downloaded more than the total $10 billion in Tesla stock. With this session, Musk’s stake in Tesla was sold decreases by 13% But despite this, he is still the majority shareholder of the company. At the same time, he was forced to concede the title of the richest man in the world to the Frenchman Bernard Arnault.

More fear for the future of TSLA stock

Since Elon Musk bought Twitter, TSLA shares have fallen more than 30%. Recent production cuts and layoffs at factories in Shanghai have caused a big crash scale down affiliate expectations on me useful The next quarter and many analysts have expressed general concern about Debt repayment Contracts from Musk to acquire Twitter.

Musk has been trying for months Exit the deal But without succeeding in his intention and for that reason he had to resort to banking channel: Twitter’s debt burden exceeds $ 10 billion, with annual interest exceed $1 billion, increasing. For this reason, the banks in the pool that lent Musk the money may suffer Huge losses this quarter. A Reuters source says religion It may be Its value decreased by almost 20%.

See also  Infinity Plus, Free 15-Day Subscription: Here's How To Use It

Musk’s extreme measures to cut Twitter’s costs seem to confirm alarms: the businessman has stopped paying rent for his offices and appears ready to. Do not pay severance pay of workers were laid off in November. Investors fear for Tesla’s future as the company’s CEO seems busier with resolving Twitter’s issues than dealing with Tesla’s business situation.

Thelma Binder

"Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff."

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close