As Tesla stock has fallen in recent weeks, members of the board and an executive at Elon Musk's company have sold off millions of dollars in stock, according to filings.

Summary

Tesla board members and executives have sold over $100 million in stock since early February as the company’s shares decline.

Board member James Murdoch sold $13 million in stock on March 10, coinciding with Tesla’s worst single-day drop in five years.

Kimbal Musk sold $27 million in shares last month, and board chair Robyn Denholm offloaded over $75 million through a predetermined plan.

The sell-offs come as Tesla’s stock has fallen nearly 50% since December.

  • Buffalox@lemmy.world
    0·
    14 days ago

    The wise ones sold as much stock as possible.
    Tesla stock is most likely to drop way more. Global sales being down about 50% for February, demands the stock must fall even more.
    Even corrupt government contracts can’t compensate for the loss of global marketshare every Musk nut was so convinced would increase to a degree where Tesla would be bigger than all other car companies combined.

    The stock price was always ridiculously high, and it still is.

    • Ghostalmedia@lemmy.worldEnglish
      0·
      14 days ago

      Musk basically ate through the massive bump he got after Trump’s Nov 4th win.

      The real pain for that stock is coming. It was already way overpriced before the election, and the speculators pumped it up even more.

        • Gordon Calhoun@lemmy.world
          1·
          14 days ago

          The price the market is willing to pay for one share of stock vs the amount of profit the company is making per share.

          A P/E of 90 means someone is willing to pay $90 for a share of a company that is netting $1 of profit for each outstanding share it has.