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Elon Musk selling Tesla shares

by LLB Reporter
15th Dec 22 11:17 am

Surely it must be time for Tesla to hire a new chief executive and let Elon Musk do his extra-curricular activities without further compromising the electric car business.

It would be an understatement to say that he’s been distracted this year, given all the hullabaloo around buying Twitter.

The fact he is once again selling stock in Tesla means his actions are hurting the hundreds of thousands of shareholders who are primarily interested in the electric vehicle’s business, not the wild, unpredictable nature of its boss.

AJ Bell’s Russ Mould said: “Musk selling another $3.6 billion worth of stock only served to pull down the price, thus penalising other investors who probably couldn’t give a hoot what happens with Twitter. They signed up to back an electric vehicle and power business and would naturally expect the company’s boss to be focused and have his mind always on the job. That certainly hasn’t been the case this year.”

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