Elon Musk tells investors he’ll pause on Tesla stock sales

KIFI

Published December 23, 2022 10:34 AM

By MATT OTT
AP Business Writer

CEO Elon Musk says he won’t sell any more shares in Tesla for 18 months or more, likely an attempt to comfort shareholders of the electric vehicle company who have watched the stock lose nearly half of its value since Musk’s purchase of Twitter went through in October. Musk dumped another $2.58 billion worth of Tesla stock last week and has sold nearly $23 billion worth of his car company’s shares since April, when he started building a position in Twitter. Tesla shares fell more than 1% on Friday, to $123.74. They were around $360 on April 1.

Article Topic Follows: AP National Business

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